LOS ANGELES--(BUSINESS WIRE)--Colony Capital, Inc. (NYSE: CLNY) announced today the sale and closing of its 51% ownership stake in the Colony Bulk Industrial Portfolio at a $400M total portfolio value. The transaction generated over $85M in net equity proceeds to Colony, supporting its strategic plan to rotate the balance sheet and redeploy capital into digital infrastructure. The sale is a final step in Colony’s exit from the industrial real estate sector and comes at a premium to carrying value for the asset, which was held at $69 million of net equity as of September 30, 2020.

“We’re very pleased to announce the sale of our Bulk Industrial Portfolio today,” said Marc Ganzi, President and CEO of Colony Capital, Inc. “The sale keeps us on track to hit our 2020 OED monetization targets and adds valuable fuel to power our digital transformation. I’d also like to acknowledge and thank everyone at Colony who helped successfully execute on the sale under these challenging conditions — congratulations to the whole team.”

About Colony Capital

Colony Capital, Inc. (NYSE: CLNY) is a leading global investment firm with a heritage of identifying and capitalizing on key secular trends in real estate. The Company manages an approximately $47 billion portfolio of real assets on behalf of its shareholders and limited partners, including over $23 billion in digital real estate investments through Digital Colony, its digital infrastructure platform. Colony Capital, structured as a REIT, is headquartered in Los Angeles with key offices in Boca Raton, New York, and London, and has over 350 employees across 20 locations in 12 countries.