CSM sells 59-building portfolio
April 9, 2020 | Matt M. Johnson | Finance & Commerce
Minneapolis-based CSM Corp. has closed on a commercial real estate sale that might be the largest ever in the Twin Cities.
CSM sold 5.7 million square feet of industrial and other commercial real estate space in the Twin Cities and 1.3 million square feet of commercial space in Colorado, according a CSM press release and information from the company’s representative in the deal, Colliers International. The transaction closed on Thursday.
Neither CSM nor Colliers would say what the portfolio price was or exactly which properties were involved. The portfolio, which was sold off market, consists of a total of 59 properties. CSM retains Twin Cities retail and hotel properties in the wake of the sale, said Colliers Senior Vice President Mark Kolsrud.
New York-based Blackstone Real Estate Investment Trust confirmed with Finance & Commerce on background with that it is the buyer, but declined to divulge details of the transaction or properties involved.
