CHICAGO (June 28, 2012) — Leading law firm Seyfarth Shaw LLP announced today that it has represented Australia’s Dexus Property Group in the $770 million sale of its U.S. central portfolio to affiliates of Blackstone Real Estate Partners VII, which closed June 21. This is the largest U.S. industrial real estate portfolio sale of 2012.
Sydney-based Dexus Property Group is Australia’s largest owner and manager of office properties. The portfolio sale included 68 U.S. industrial properties, led by three recently completed Class A distribution facilities leased to Whirlpool Corporation.
Following the sale, Dexus currently owns and manages 24 U.S. industrial properties totaling more than 6.8 million square feet and valued at approximately $550 million. Dexus also manages properties valued at approximately $200 million on behalf of U.S. third party clients.
The Seyfarth Shaw team was led by Chicago partner Joel Rubin, and included partner Kelly Bufton (Chicago), senior counsel Jessica Pink (Los Angeles) and associate Robin Freeman (San Francisco), who are all members of the firm’s Real Estate Department.
Seyfarth Shaw has over 800 attorneys located in 10 offices throughout the United States, including: Atlanta, Boston, Chicago, Houston, Los Angeles, New York, Sacramento, San Francisco and Washington, D.C., as well as internationally in London. Seyfarth Shaw provides a broad range of legal services in the areas of labor and employment, employee benefits, litigation, corporate and real estate. The firm’s clients include over 300 of the Fortune 500 companies, and our practice reflects virtually every industry and segment of the economy. For more information, please visit www.seyfarth.com.