Bradley Associates gets $488 million for 32 industrial properties.(Commercial)

Chicago-based Bradley Associates announced it has completed a portfolio sale of 32 predominately industrial properties for approximately $488 million to one of the real estate investment trusts sponsored by an affiliate of The Inland Real Estate Group of Companies Inc., Oak Brook, Illinois.

New York-based JP Morgan Securities Inc. acted as Bradley Associates' exclusive financial adviser and was instrumental in consummating the portfolio transaction, which includes three retail, six office and 23 industrial properties.

Bradley Associates successfully redeployed the majority of the portfolio sale proceeds into new real estate projects, maintaining its high level of activity in the national commercial real estate market, according to Sherwin Jarol, managing partner of Bradley Associates.

"Throughout the negotiations, we have enjoyed our relationship with Inland and are extremely satisfied with the results of the sale of this portfolio," said Jarol. "We were very pleased with our overall return to our investors."

Bradley Associates' $1.5 billion portfolio of commercial real estate holdings consists of industrial, office, hotel and senior housing properties located in more than 30 states. The company employs a staff of financial analysts and acquisition, due-diligence, property-management and investor-relations specialists, explained Jarol.