Stonemont, PCCP Close $1B Industrial Buy

July 30, 2026

The portfolio spans 10 states.

Stonemont and PCCP have closed on the $1 billion purchase of a 5.9 million-square-foot industrial collection comprising 38 buildings. JP Morgan and Wells Fargo provided acquisition debt in a deal arranged by Eastdil Secured.

The duo’s intentions to purchase the portfolio surfaced earlier this month, Green Street News reported. Blackstone’s Link Logistics was identified as the seller at the time.

The collection is located throughout 14 metros in 10 states, with a tenant roster consisting of more than 70 companies, according to Commercial Observer. The 95-percent-leased portfolio is scattered across high-growth markets such as Austin, Charlotte, N.C., Dallas, Phoenix and Central Florida, among others.

PCCP and Stonemont’s partnership extends beyond the latest $1 billion deal, with previous ventures revolving around development, including a 295,506-square-foot warehouse in Passaic, N.J. The property came online in 2024 and a year later, became subject to a $65.4 million loan, issued by TPG Real Estate Credit.

Down in Florida, Stonemont and PCCP developed a 100,620-square-foot industrial facility in Tampa, Fla. The building came online in the last quarter of 2025.

Atlanta-based Stonemont has $5.3 billion in assets under management, having deployed $8 billion since its 2007 inception. PCCP has raised, invested or managed more than $47.8 billion in institutional capital across commercial real estate debt and equity in the U.S.

Blackstone thins real estate holdings

This latest Blackstone deal is consistent with the company’s recent real estate disposition activity. According to its latest earnings report, the firm ended the second quarter with $314.1 billion in real estate assets under management, down 3.4 percent year-over-year.

Among Blackstone’s recent industrial trades is the 441,000-square-foot portfolio sale to WareSpace earlier this month, which marked the largest acquisition by the flexible warehouse solutions firm at the time. The properties spanned four markets and three states.

In June, the private equity giant sold a 393,678-square-foot Salt Lake City industrial collection to TA Realty, according to Yardi Matrix data. That same month, Blackstone divested a 418,985-square-foot portfolio in metro Fort Lauderdale for $99.5 million. Dalfen Industrial purchased the collection.