Memphis Industrial Portfolio Commands $50M

A joint venture between Diamond Properties and funds managed by Ares Management LP has acquired Memphis Depot, a 43-building industrial portfolio in Memphis, Tenn., from Mayfield Properties LP for $50 million.

HFF arranged the sale and secured $32.5 million in financing for the purchase, connecting the buyers with a seven-year, fixed-rate acquisition loan from Allegiant Real Estate Capital.

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