CBRE Capital Markets Closes $70.6M Sale of 1.2 Million Square Foot Twin Cities Industrial Portfolio

Minneapolis - November 20, 2017 - CBRE Capital Markets has arranged the sale of a 1.2 million-square-foot Twin Cities metro area industrial portfolio on behalf of Artis REIT. Capital Partners LLP, in a joint venture with PCCP, LLC, acquired the portfolio for $70.6 million. The portfolio includes 14 buildings across seven properties in the Twin Cities suburbs.

The Minneapolis-based team of Ryan Watts, Judd Welliver, Sonja Dusil and Tom Holtz marketed the portfolio for sale on behalf of Artis REIT. With this sale, the Winnipeg-based REIT is repositioning its industrial portfolio to focus on newer generation properties in the Minneapolis-St. Paul market. The sale, which closed November 17, brings Capital Partners' total holdings in the metro to 3.3 million square feet.

"With the addition of this portfolio, Capital Partners becomes one of the largest owners of Twin Cities industrial real estate in our market," said Mr. Welliver, CBRE Capital Markets, senior vice president.

The sale includes properties in Eagan, Bloomington, Fridley, Brooklyn Center, Arden Hills and Burnsville, Minnesota. The 14 buildings in the portfolio offer a mix of highly functional properties in strategic infill locations across the Twin Cities metro area. The portfolio has a diverse roster of approximately 50 quality tenants including Ameriprise, Inc., Staples, Supply Technologies, LLC and Galil Medical, Inc. The portfolio was 81 percent leased at the time of sale.

The properties in the portfolio include:
• Corporate Square A, B, C, E & F, Eagan
• Eagan Industrial Warehouse, Eagan
• Braemar Business Center A & B, Bloomington
• Northpoint Industrial Center 1, 2 & 3, Fridley
• France Avenue Business Park I, Brooklyn Center
• Round Lake Business Center, Arden Hills
• Burnsville Business Center A, Burnsville

About CBRE Group, Inc.
CBRE Group, Inc. (NYSE: CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world's largest commercial real estate services and investment firm (based on 2016 revenue). The company has more than 75,000 employees (excluding affiliates), and serves real estate investors and occupiers through approximately 450 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.

About PCCP, LLC
PCCP, LLC is a premier real estate finance and investment management firm focused on commercial real estate debt and equity investments. PCCP has approximately $6.8 billion in assets under management on behalf of institutional investors. With offices in New York, San Francisco and Los Angeles, PCCP has a proven track record for providing real estate owners and investors with a broad range of funding options to meet capital requirements. PCCP originates and services each of its investments, ensuring that clients benefit from added value and outstanding investment returns. Since its inception in 1998, PCCP has successfully raised, invested and managed over $14.8 billion of institutional capital through a series of investment vehicles including private equity funds, separate accounts and joint ventures. PCCP continues to seek investment opportunities with proven operators seeking fast and reliable capital. Learn more about PCCP at www.pccpllc.com.