Deals

Deals Totaling $905 Million to Make Amazon ILPT’s Largest Tenant

Warehouse landlord to buy 26 properties in two transactions
Latest acquisitions will bring portfolio to 296 properties

Operations At An Amazon.com Inc. Fulfillment Centre And An Argos Distribution Warehouse On Cyber Monday — Photographer: Simon Dawson/Bloomberg

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By Lily Katz

February 15, 2019 at 10:30 AM UTC

This article is for subscribers only.

U.S. warehouse owner Industrial Logistics Properties Trust is buying two real estate portfolios for $905.3 million, acquisitions that will make Amazon.com Inc. its largest tenant.

ILPT agreed to purchase 18 properties in 12 states from affiliates of Cole Office & Industrial REIT (CCIT II) Inc. for $625.3 million, according to a statement Friday. The facilities are fully leased to 13 tenants. The company also agreed to buy eight properties in Indiana and Ohio from a seller it didn’t name for $280 million.