Atlanta-based Industrial Developments International has merged with Verde Realty, another industrial company owned by Brookfield Property Partners. Brookfield completed its purchase of IDI just a few weeks ago for $1.1 billion; Kajima Co. was the seller in this transaction. Brookfield paid $886 million to purchase Verde Realty in 2012.
The merger of IDI and Verde Realty, which will operate under IDI’s name, has doubled IDI’s industrial portfolio. The portfolio now includes 179 buildings, totaling 43 million square feet. Also included in this portfolio are 53 million square feet of undeveloped land. The goal of the merger was to increase the companies’ footprint, strengthen their assets and balance sheets, and focus more on the acquisition of additional properties.Share