IDI MERGES WITH VERDE REALTY

ATLANTA — Atlanta-based IDI, a leading full-service industrial real estate company, has merged with Verde Realty in a $1.1 billion transaction. The new entity, which will operate under the IDI name, has combined assets valued at more than $2 billion. The company will have offices in 11 cities in the U.S. and Mexico, and its headquarters will remain in Atlanta with Timothy Gunter retaining the title of president and CEO. The deal doubles the number of buildings in IDI’s portfolio to a total of 179, totaling 45 million square feet. Additionally, IDI now has landholdings available for 53 million square feet of buildable space. Verde Realty is an existing majority-owned real estate holding of Brookfield Property Partners LP (NYSE: BPY, TSX: BPY.UN) and its institutional partners. The transaction makes Brookfield’s portfolio of industrial real estate holdings among the largest in North America.