Industrial Property Trust Invests $182 Million in 2Q15

Industrial Property Trust Inc., a publicly registered non-traded real estate investment trust that owns and operates distribution warehouses throughout the United States, reported its second quarter acquisition activity.

The company has acquired, either directly or through its 51 percent ownership interest in a joint venture partnership, 20 industrial buildings totaling approximately 2.2 million square feet, located in the Pennsylvania, Atlanta, San Francisco Bay, Seattle/Tacoma and New Jersey markets, for an aggregate purchase price of approximately $182.3 million.

“These acquisitions are located in markets where demand for distribution and logistics space remains high,” said chief executive officer Dwight Merriman. “These industrial buildings allow us to further diversify our portfolio in terms of geography, tenants and lease terms.”

Industrial Property Trust is focused on acquiring and operating high-quality distribution warehouses that are leased to corporate customers. The company’s core strategy is to build a national platform of high-quality industrial properties by targeting markets that have high barriers to entry, proximity to a large demographic base, and/or access to major distribution hubs.

As of June 30, 2015, Industrial Property Trust has acquired, either directly or its joint venture partnership, 68 industrial buildings totaling approximately 9.3 million rentable square feet in 14 major industrial markets for an aggregate purchase price of approximately $719.1 million.