Blackstone has struck a deal to buy a portfolio of U.S. industrial warehouses from Colony Capital for $5.9 billion, including debt, furthering its bet on the continued growth of e-commerce
By Miriam Gottfried Sept. 30, 2019 7:00 am ET Blackstone Group Inc. BX -4.58% has struck a deal to buy a portfolio of U.S. industrial warehouses from Colony Capital Inc. CLNY 0.51% for $5.9 billion, including debt, furthering its bet on the continued growth of e-commerce.
The deal includes 60 million square feet across 465 warehouses in 26 U.S. markets, with particular concentrations in Dallas, Atlanta, Florida, northern New Jersey and California. It also includes Colony’s 51% stake in a 4 million square-foot portfolio of bulk-distribution warehouses, larger facilities further outside urban centers. Blackstone is also buying the unit that manages both sets of properties.
Even before the Colony deal, Blackstone was one of the largest owners of U.S. logistics properties, thanks to its purchase of GLP’s U.S. warehouses. With $154 billion in assets, the company’s real-estate business also owns trophy properties such as Chicago’s Willis Tower and the Cosmopolitan of Las Vegas resort and casino, and thousands of single-family homes.
Deutschland Neuesten Nachrichten, Deutschland Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
Austria votes in snap parliamentary poll, conservatives seen heading new coalitionAustrians vote on Sunday in a snap parliamentary election that conservative lead...
Weiterlesen »
McIlroy criticizes European Tour for easy course set-upsRory McIlroy slammed the European Tour after the final round at the Alfred Dunhi...
Weiterlesen »
Amazon Could Soon Be The World's Biggest Shipping CompanyAmazon sold $164 billion worth of stuff on its website this year. America’s two largest delivery companies—UPS (UPS) and FedEx (FDX)—got all that “stuff” from sellers to buyers. But the days of these companies are numbered…
Weiterlesen »
Start Building Muscle and Get Stronger With This 4-Week Strength Training PlanWhether your goal is to work out consistently twice a week, do 20 push-ups before the new year, or build muscle, strength training can help you achieve your
Weiterlesen »
Love Island's Dani Dyer and boyfriend Sammy share loved-up snap from spa dayDani has been dating the stockbroker for six months, but had previously struck up a romance as teenagers
Weiterlesen »
Holly Willoughby shares rare snap of son Chester on his fifth birthdayThe TV presenter posted a sweet tribute on social media to mark her son turning five
Weiterlesen »