TA Associates Realty has picked up a portfolio of industrial properties in Torrance, California for $52 million (€37 million). The properties were acquired from California-based real estate developer Storm Properties.
The deal comprised 13 properties, totaling approximately 545,000 square feet. Private equity real estate firm Thompson National Properties facilitated the deal on behalf of TA Associates and Storm Properties. Storm currently manages 850,000 square feet of industrial properties in the Southern California region.
The latest deal follows on from Boston-based TA Associates Realty’s $118 million acquisition earlier this month of two US multifamily properties in Orlando, Florida, in what was believed to be the biggest multifamily transaction in Orlando this year. Acquired from TriMont Real Estate Advisors, the properties – the Cottages at Hunter’s Creek and LaPalazza at MetroWest – comprised 1,042 units.