{"id":1004559507,"date":"2021-11-30T17:38:24","date_gmt":"2021-12-01T01:38:24","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004559507"},"modified":"2022-12-08T12:50:23","modified_gmt":"2022-12-08T20:50:23","slug":"blackstone-wraps-2-8b-industrial-buy","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/blackstone-wraps-2-8b-industrial-buy\/","title":{"rendered":"Blackstone Wraps $2.8B Industrial Buy"},"content":{"rendered":"\n<p>Two Blackstone Group affiliates have paid $2.8 billion for 124 industrial properties on two continents from Cabot Properties.<\/p>\n\n\n\n<div class=\"wp-block-image\"><figure class=\"alignright size-large is-resized\"><img loading=\"lazy\" decoding=\"async\" data-attachment-id=\"1004559509\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/blackstone-wraps-2-8b-industrial-buy\/image-by-geralt-via-pixabay-1\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/11\/Image-by-Geralt-via-Pixabay-1-e1678358443979.jpg\" data-orig-size=\"1804,1353\" 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=\"Image-by-Geralt-via-Pixabay-1\" data-image-description=\"&lt;p&gt;https:\/\/pixabay.com\/illustrations\/dollar-rate-world-economy-boom-544949\/&lt;\/p&gt;\n\" data-image-caption=\"&lt;p&gt;Image by Gerd Altmann via Pixabay&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/11\/Image-by-Geralt-via-Pixabay-1-e1678358443979.jpg?w=1024\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/11\/Image-by-Geralt-via-Pixabay-1.jpg?w=696\" alt=\"\" class=\"wp-image-1004559509\" width=\"1024\" height=\"768\" \/><figcaption>Image by Geralt via Pixabay.com<\/figcaption><\/figure><\/div>\n\n\n\n<p>Most of the assets\u201415.2 million square feet\u2014are located in the U.S. and were acquired by Blackstone Real Estate Income Trust. Markets include South Florida, the New York City metropolitan area, eastern Pennsylvania and the Inland Empire.<\/p>\n\n\n\n<p>In a separate deal, Blackstone\u2019s European Core+ affiliate bought 22 assets encompassing 2.2 million square feet. Those properties are located in major industrial markets ranging from England\u2019s North West and South East Midlands to Amsterdam and Dusseldorf, Germany.<\/p>\n\n\n\n<p>The two transactions represent the disposition of Cabot\u2019s Value 5 fund, which was launched in 2016. Boston-based Cabot created the portfolio through 90 separate transactions, including 24 development projects. <\/p>\n\n\n\n<p>Tenants consist of a wide range of industrial occupants, including E-commerce companies. Assets in the portfolio average 15 years in age. Cabot\u2019s chairman &amp; CEO, Franz Colloredo-Mansfeld, noted in a statement that his firm has completed $5 billion worth of transactions with Blackstone over the past four years.<\/p>\n\n\n\n<p>The Cabot acquisition is BREIT\u2019s second major industrial portfolio purchase since the beginning of August. In that $3.2 billion deal, BREIT <a href=\"https:\/\/www.commercialsearch.com\/news\/breit-to-buy-torontos-wpt-industrial-reit-for-3-1b\/\" rel=\"nofollow\">acquired Toronto-based WPT Industrial Real Estate Investment Trust.<\/a> Included were 110 properties in 20 states. On the disposition side, in September Blackstone\u2019s Link Logistics affiliate sold a 1.9 million-square-foot<a href=\"https:\/\/www.commercialsearch.com\/news\/blackstone-sells-1-9-msf-portfolio\/\" rel=\"nofollow\"> Minneapolis-area portfolio<\/a>.<\/p>\n\n\n\n<p>Cabot was advised by BofA Securities, CBRE and Eastdil Secured. Blackstone\u2019s legal counsel for the transaction was Simpson Thacher &amp; Bartlett LLP.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>In two related deals, the investor acquired properties in the U.S. and Europe.<\/p>\n","protected":false},"author":2492,"featured_media":1004559509,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21808,22251,21748,16,21783,23891,21742],"tags":[33920,33129],"class_list":["post-1004559507","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-featured","category-in-focus","category-industrial","category-international","category-investment","category-national","category-latest","tag-cabot-properties","tag-the-blackstone-group"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Blackstone Wraps $2.8B Industrial Buy - 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