{"id":1004352437,"date":"2019-09-16T04:20:04","date_gmt":"2019-09-16T12:20:04","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004352437"},"modified":"2019-09-17T04:05:13","modified_gmt":"2019-09-17T12:05:13","slug":"blackstone-bags-450m-logistics-loan","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/blackstone-bags-450m-logistics-loan\/","title":{"rendered":"Blackstone Bags $450M Logistics Loan"},"content":{"rendered":"
\"\"<\/a>

Image via Pixabay<\/em><\/p><\/div>\n

New York Life Real Estate Investors has provided a $450 million mortgage loan for the financing of a 47-property industrial portfolio that The Blackstone Group acquired from TA Realty. The fixed-rate loan has a term of seven years.<\/p>\n

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READ ALSO:<\/strong> Industrial Outlook Calls for Steady Growth in 2020<\/a><\/p>\n

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In a statement, New York Life identified Blackstone as the sponsor and said the portfolio consists of 68 buildings totaling 5.4 million square feet across nine major metropolitan areas in the U.S. Commercial Property Executive<\/em> has independently confirmed that the fleet of logistics properties was recently acquired by Blackstone-managed funds<\/a> from TA Realty.<\/p>\n

Blackstone\u2019s acquisition formed part of a larger $1 billion industrial sale by TA Realty, which also transferred 28 Texas properties to AEW Capital Management in a separate transaction. The overall portfolio sold by TA Realty in the two deals totaled 96 properties and 8.3 million square feet.<\/p>\n

A well-tenanted portfolio<\/h2>\n

The statement by New York Life indicates that the portfolio acquired by Blackstone consists of assets that have historically performed well, with high levels of occupancy and a diverse tenant mix. The announcement added that the buildings are considered infill and highly functional. Further details about the properties are not available, but the overall 96-property portfolio sold by TA Realty houses more than 325 tenants and was 91 percent occupied as of July 1, according to a statement by the investment manager earlier this month.<\/p>\n

The transaction comes soon after Stockbridge Capital Group landed $350 million in financing<\/a> to acquire a 26-property, 6.3 million-square-foot industrial portfolio predominantly in the U.S. West Coast. The U.S. industrial market is thriving<\/a>, with just 4.9 percent of space vacant nationwide and a record 306.1 million square feet of new space under construction as of the second quarter, according to research by Colliers International.<\/p>\n","protected":false},"excerpt":{"rendered":"

New York Life Real Estate Investors provided the financing for the 5.4 million-square-foot industrial portfolio.<\/p>\n","protected":false},"author":744,"featured_media":1004352791,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21808,21825,21748,23891,21742],"tags":[32763,33542,32822,33129],"class_list":["post-1004352437","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-featured","category-finance","category-industrial","category-national","category-latest","tag-colliers-international","tag-new-york-life-real-estate-investors","tag-ta-realty","tag-the-blackstone-group"],"acf":[],"yoast_head":"\nBlackstone Bags $450M Logistics Loan - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/blackstone-bags-450m-logistics-loan\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Blackstone Bags $450M Logistics Loan\" \/>\n<meta property=\"og:description\" content=\"New York Life Real Estate Investors provided the financing for the 5.4 million-square-foot industrial portfolio.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/blackstone-bags-450m-logistics-loan\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2019-09-16T12:20:04+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2019-09-17T12:05:13+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/09\/Industrial-news.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"620\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Greg Isaacson\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/blackstone-bags-450m-logistics-loan\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/blackstone-bags-450m-logistics-loan\\\/\"},\"author\":{\"name\":\"Greg Isaacson\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/1a92010198045e41b0b801129a41b3d8\"},\"headline\":\"Blackstone Bags $450M Logistics Loan\",\"datePublished\":\"2019-09-16T12:20:04+00:00\",\"dateModified\":\"2019-09-17T12:05:13+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/blackstone-bags-450m-logistics-loan\\\/\"},\"wordCount\":304,\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/blackstone-bags-450m-logistics-loan\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2019\\\/09\\\/Industrial-news.jpg\",\"keywords\":[\"Colliers International\",\"New York Life Real Estate Investors\",\"TA Realty\",\"The Blackstone Group\"],\"articleSection\":[\"Featured\",\"Finance\",\"Industrial\",\"National\",\"News\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/blackstone-bags-450m-logistics-loan\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/blackstone-bags-450m-logistics-loan\\\/\",\"name\":\"Blackstone Bags $450M Logistics Loan - 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