United States: Crow Holdings Sells Industrial Real Estate For $1.5 Billion
Last Updated: November 7 2002

Originally issued on October 17, 2002

(Dallas, TX) - CFH Industrial Trust, Inc., also known as Crow Holdings Industrial Trust, has agreed to sell its large industrial real estate business to ING Group NV of the Netherlands for an estimated $1.5 billion, according to Jeffrey Chapman, who led the transaction team for CFH's outside law firm, Vinson & Elkins.

As part of the agreement, ING will acquire about 35 million square feet of industrial space or about 300 warehouses owned by Crow Holdings in 22 cities, including Atlanta, Boston, Dallas, Denver, Houston, Los Angeles, Nashville, Northern New Jersey and Phoenix.

James Hendricks, the chief executive officer of Crow Holdings, will become CEO of ING's newly created industrial unit.

Handling the deal for Crow Holdings, an affiliate of the family of Dallas developer Trammell Crow, were the following lawyers from Vinson & Elkins: Jeffrey Chapman, partner in Corporate; Stuart Johnston, partner in Employment Litigation and Labor; Joel Ross, a partner in Real Estate; James Meyer, a partner in Tax; Gary Short, a partner in Employee Benefits and Executive Compensation; Andrew Wright, an associate in Corporate; Mirjam Kirk, an associate in Corporate; Robert Little, an associate in Corporate; Meredith Bjorck, an associate in Corporate; David Peck, an associate in Tax; Jason Myers, an associate in Real Estate.

Counsel for ING from King & Spalding included: William Fryer, a partner in Real Estate; Dan Heller, a partner in Real Estate; Alan Prince, a partner in Corporate; John Wilson an associate in Corporate and Keith Townsend, an associate in Corporate; and Josh Kamen in Real Estate.

Vinson & Elkins

Vinson & Elkins was established in 1917 and is one of the largest international law firms. The firm has more than 840 lawyers practicing in Austin, Beijing, Dallas, Houston, London, Moscow, New York, Singapore, and Washington, D.C. The firm offers a wide range of legal services. Clients include public and private companies, financial institutions, municipalities, governments of sovereign nations, entrepreneurs, families, and individuals.

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