{"id":1004358434,"date":"2019-10-08T04:07:27","date_gmt":"2019-10-08T12:07:27","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004358434"},"modified":"2019-10-08T06:33:49","modified_gmt":"2019-10-08T14:33:49","slug":"blackstone-sells-3b-logistics-portfolio","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/blackstone-sells-3b-logistics-portfolio\/","title":{"rendered":"Blackstone Sells $3B Logistics Portfolio"},"content":{"rendered":"<div id=\"attachment_1004301845\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/02\/industrial-news-k.jpg\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004301845\" data-attachment-id=\"1004301845\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/industrial-market-still-going-strong\/industrial-news-k\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/02\/industrial-news-k.jpg\" data-orig-size=\"800,620\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"Generic image of industrial facility\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;Image via Pixabay&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/02\/industrial-news-k.jpg?w=800\" class=\"wp-image-1004301845 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/02\/industrial-news-k.jpg\" alt=\"\" width=\"300\" height=\"233\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/02\/industrial-news-k.jpg 800w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/02\/industrial-news-k.jpg?resize=300,233 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/02\/industrial-news-k.jpg?resize=768,595 768w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004301845\" class=\"wp-caption-text\"><em>Image via Pixabay<\/em><\/p><\/div>\n<p>Nuveen Real Estate has added to this year\u2019s string of logistics mega-deals by acquiring a 29 million-square-foot portfolio of industrial properties across the U.S. from Blackstone. The portfolio, valued at $3 billion, consists of more than 100 bulk logistics, light industrial and urban infill properties, according to a statement by Nuveen, the investment management arm of TIAA.<\/p>\n<p>The bundle of properties is spread across 12 markets, with concentrations of assets in Southern California, Northern New Jersey, Dallas, Chicago, Baltimore and Washington, D.C. Eastdil Secured advised Blackstone on the sale.<\/p>\n<p>The deal comes after Blackstone-managed funds&nbsp;<a href=\"https:\/\/www.commercialsearch.com\/news\/blackstone-aew-capital-funds-buy-1b-industrial-portfolio\/\">picked up a 47-property logistics portfolio<\/a> spanning 68 buildings from TA Realty, in a deal announced in September. This past June, Stephen Schwarzman\u2019s private equity firm revealed it would nearly double its industrial footprint by <a href=\"https:\/\/www.commercialsearch.com\/news\/blackstone-to-double-us-industrial-footprint-in-record-18-7b-deal\/\">paying $18.7 billion<\/a>&nbsp;to acquire a fleet of logistics assets from Global Logistic Properties totaling roughly 179 million square feet across the U.S.&nbsp;<\/p>\n<p>Nuveen Real Estate, which manages about 17.2 billion square feet of logistics assets globally, said in a statement that it sees the acquisition from Blackstone as an opportunity to boost its logistics holdings across strategic distribution hubs, include high-barrier-to-entry coastal markets. The company added that it would continue to look for opportunities to grow its 80 million-square-foot U.S. industrial platform.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Nuveen Real Estate purchased more than 100 industrial assets totaling 29 million square feet across the U.S.<\/p>\n","protected":false},"author":744,"featured_media":1004301845,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21808,21748,21783,23891,21742],"tags":[32892,33101,43901],"class_list":["post-1004358434","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-featured","category-industrial","category-investment","category-national","category-latest","tag-blackstone","tag-eastdil-secured","tag-nuveen-real-estate"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - 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