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14

Blackstone Snags Industrial Portfolio for $1.8B

By Tony Seruga

With the closing of the transaction, Blackstone Real Estate Income Trust has added 22 million square feet of last-mile infill warehouse and distribution facilities to its holdings.

Blackstone Real Estate Income Trust Inc.’s collection of industrial properties just grew by 22 million square feet. The commercial property REIT recently completed the acquisition of the 146-building Canyon Industrial Portfolio from Cabot Industrial Value Fund IV LP and Cabot Industrial Value Fund IV Manager LP in a $1.8 billion deal.

Consisting of last-mile infill warehouse and distribution facilities, the Canyon Portfolio covers a lot of ground—literally. Consisting of high-quality properties, the group has major concentrations in several markets including Chicago, Dallas and Baltimore/Washington D.C., which account for 4.1 million, 3.2 million and 1.9 million square feet, respectively. The portfolio also has a substantial footprint in Los Angeles/Inland Empire and South/Central Florida…

Blackstone Snags Industrial Portfolio for $1.8B

Categories : Commercial Real Estate, Finance

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