INDT - Indus Realty Trust acquires 205K sqf portfolio in Florida for $31.6M

INDUS Realty Trust (NASDAQ:INDT) has purchased a fully leased, ~205K square foot portfolio located in the Orlando and Palm Beach, Florida markets. The Company used cash on hand to pay the $31.6M purchase price before transaction costs, which equates to an in-place cash capitalization rate of ~4.6%. With the addition of the Florida Portfolio acquisition, in Florida INDUS owns ~621K square feet across seven buildings in addition to a two-building project totaling 195K square feet currently under development.

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Indus Realty Trust acquires 205K sqf portfolio in Florida for $31.6M