News

Private Real Estate Firm, Cohen Asset Management, Inc., Completes the Disposition of a Portfolio of Class A Southern California Industrial Properties  
Los Angeles, California (November 30, 2011)
 
Cohen Asset Management, Inc., a Los Angeles based industrial and commercial real estate investment firm announced the sale of a portfolio of institutional quality, Class A industrial buildings totaling 800,000 square feet located in the Inland Empire area of Southern California. The sale, on behalf of IBC Industrial Properties LLC, closed on November 23, 2010 to a Southern California based private investor. Cohen’s interest in the properties were originally acquired through a distressed note purchase and then converted to fee with acquisition and disposition timing all completed within six months. This opportunity came about through Cohen’s ability to source off-market transactions through its longstanding operator model and is part of a series of transactions that Cohen has negotiated this year.
 
 In agreeing to sell the properties, consideration was given to the premium price offered for a 75% vacant portfolio given that the buyer had completed all of their due diligence and went non-refundable with a substantial portion of the purchase price upon the execution of the purchase and sale contract while closing within 7 days thereafter. Jason Haas, COO and Executive Vice President of Cohen Asset Management, said “Executing opportunistic sales of buildings in this environment at premium pricing is indicative of the value-add that Cohen brings to it investors and strategic partners.
 
 About Cohen Asset Management
Cohen Asset Management, Inc., is a private commercial and industrial real estate investment firm. The firm’s relationships extend to high net worth individuals, institutional investors and domestic business entities. The private real estate investment firm is an active operator and investor of commercial and industrial real estate assets and has a well-established reputation as a value added investor focusing on commercial and industrial real estate opportunities that are inefficiently priced due to a variety of circumstances such as vacancies, rollover risk, sub-optimal management, inefficient current use, deferred maintenance, long-term undervalued leases or other unfavorable property and market conditions.