T
erreno Realty Corporation, a US industrial real estate investor, has sold a portfolio of six properties in Doral, Florida to an undisclosed buyer for $82.3 million (approximately €71.2 million). The company acquired the 302,000 square foot portfolio on May 22, 2013 for $23.7 million.
The sale represents a significant return on investment, with the portfolio generating an unleveraged internal rate of return of 14.7% at the time of sale. At that point, the properties were 91% leased to 21 tenants.
Terreno Realty Corporation focuses on acquiring, owning, and operating industrial real estate in six key US coastal markets: New York City/Northern New Jersey, Los Angeles, Miami, San Francisco Bay Area, Seattle, and Washington, DC.
