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The real estate investment trust that owns much of the Windsor-area logistics cluster is selling itself in a major deal.

INDUS Realty Trust announced a deal Thursday that would see it be acquired by Centerbridge Partners, a global private investment firm, and investment firm GIC Real Estate in an all-cash transaction valued at $868 million.

The transaction was unanimously approved by the participating members of INDUS’ Board of Directors.

Under the terms of the merger agreement, INDUS stockholders will receive $67 per share in cash, a premium of 17 percent on INDUS’ stock price as of when Centerbridge announced it intended to make an offer on INDUS in November, the latter said.

“After conducting an extensive process to explore the Company’s strategic alternatives, we are pleased to have reached an agreement with Centerbridge and GIC. The transaction delivers immediate and significant value to our stockholders, and we believe it validates the quality of the platform and portfolio we have built over INDUS’ long history,” INDUS CEO Michael Gamzon said in a statement. “I would like to extend my thanks to the entire Board and management team for their hard work during this process, and for their unwavering commitment to act in the best interests of our stockholders.”

The transaction is expected to close in the summer of 2023 subject to a vote of shareholders and regulatory approvals.

Indus owns around 2.1 million square feet of industrial buildings in the giant logistics cluster near Bradley International Airport, plus a pair of development sites in the area totaling over 91 acres. The company also owns many large industrial/logistics properties in the Allentown, Pennsylvania and Orlando, Florida markets, among others. Its total holdings account for around 6.1 million square feet of space.