Verde merger takes 4.7 million SF in El Paso, JuarezVerde merger takes 4.7 million SF in El Paso, Juarezhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=60762013-10-10T06:42:00Z2013-10-10T00:00:00Z

EL PASO - Verde Realty, a quiet real estate investment trust formed in El Paso, has merged with Atlanta-based Industrial Developments International Inc., known as IDI.

The deal is worth $1.1 billion.

The combination of the two industry players creates a more than $2 billion juggernaut with one of the largest portfolios of industrial and logistics facilities in North America.

By merging with Verde Realty, IDI acquires 17 million sf of industrial space in the U.S. and Mexico, from Tijuana to McAllen, including 4.7 million sf of space in El Paso, Juárez and nearby Santa Teresa, N.M., according to IDI president and CEO Tim Gunter.

The new company, whose headquarters will remain in Atlanta, will operate under the IDI name and will have offices in 11 U.S. cities.

Verde Realty’s headquarters, which moved from El Paso to Houston in 2010, will become a regional office.

Listen to Podcast 191...for this story and more!

El Paso Inc.
El Paso
http://www.elpasoinc.com/news/local_news/article_cbb75afe-2e97-11e3-acb6-0019bb30f31a.htmlRead more at {Source}

 Search NewsTalk Texas