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Colony Is Exploring $5 Billion Sale of Warehouse Business

Tom Barrack
Tom BarrackPhotographer: Kevork Djansezian/Bloomberg /Bloomberg
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Tom Barrack’s Colony Capital Inc. is exploring the sale of Colony Industrial, its unit that owns warehouses, according to people with knowledge of the matter.

Colony Capital, which in February said it would conduct a strategic review as it attempts to salvage its sinking market value, is working with Eastdil Secured and Morgan Stanley to solicit interest from potential buyers for the unit, which may fetch more than $5 billion, said the people, who asked not to be identified because the talks are private. Suitors for the unit include Brookfield Asset Management Inc. Representatives for Los Angeles-based Colony Capital and Brookfield declined to comment.