{"id":1004744855,"date":"2025-01-30T04:12:54","date_gmt":"2025-01-30T12:12:54","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004744855"},"modified":"2025-01-30T05:27:22","modified_gmt":"2025-01-30T13:27:22","slug":"goldman-sachs-dalfen-pay-293m-for-blackstone-industrial-portfolio","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/goldman-sachs-dalfen-pay-293m-for-blackstone-industrial-portfolio\/","title":{"rendered":"Goldman Sachs, Dalfen Pay $293M for Blackstone Industrial Portfolio"},"content":{"rendered":"\n

<\/p>\n\n\n

\n
\"Exterior<\/a>
The industrial building at 1300 Wigwam Parkway in Henderson, Nev., is one of the 21 assets that changed hands in the current deal. Image courtesy of Dalfen Industrial<\/em><\/figcaption><\/figure><\/div>\n\n\n

Goldman Sachs Alternatives and Dalfen Industrial are expanding their nearly five-year-old partnership. In an off-market transaction, the joint venture has acquired a 21-building, 2.1 million-square-foot last-mile logistics portfolio from Blackstone for $293 million.<\/p>\n\n\n\n

The partnership first teamed up on industrial transactions in July 2020, with the purchase of 46 last-mile industrial facilities valued at nearly $500 million. With this latest acquisition, Dallas-based Dalfen and Goldman Sachs now own 94 buildings totaling 19 million square feet in major U.S. markets.<\/p>\n\n\n\n

\n\n\n\n

READ ALSO:<\/strong> Industrial Sector Settles After Supply Surge<\/a><\/p>\n\n\n\n

\n\n\n\n

The Blackstone portfolio adds assets in Dallas, Philadelphia, Pennsylvania\u2019s Lehigh Valley, Cincinnati and Las Vegas. The buildings range from about 34,000 square feet to 260,000 square feet, with an average of about 125,000 square feet, and their vintage varies from 1995 to 2023 with an average of 2003. <\/p>\n\n\n\n

The portfolio was 92 percent leased at closing to 68 tenants including Amazon, Red Bull and Packaging Corp. of America. Sean Dalfen, president & CEO of Dalfen Industrial, said in prepared remarks the collection was acquired at well below replacement cost.<\/p>\n\n\n\n

Blackstone sold another last-mile industrial portfolio in recent months when Longpoint Partners acquired a 26-building, 1.4 million-square-foot portfolio of infill, last-mile facilities in South Florida<\/a> for $331.3 million. The collection had properties in Miami-Date, Broward and Palm Beach counties and an average occupancy rate of 97 percent.<\/p>\n\n\n\n

Last-mile focus<\/h2>\n\n\n\n

Dalfen, one of the largest privately held industrial real estate firms in the U.S., specializes in strategically located infill warehouses and distribution centers with a portfolio of more than 50 million square feet. <\/p>\n\n\n\n

The partnership between Dalfen and Goldman Sachs has centered on last-mile properties. In December 2020, the joint venture purchased 10 last-mile properties located in Denver; West Palm Beach, Fla.; Charlotte, N.C.; San Antonio and Fort Worth, Texas, ending its first year with more than 8 million square feet of infill industrial acquisitions.<\/p>\n\n\n\n

Sean Dalfen told Commercial Property Executive<\/em> the firm will continue its investment strategy with a focus on last-mile properties in the nation\u2019s top markets that are close to consumers and strategically located to meet the growing e-commerce and logistics demand.<\/p>\n\n\n\n

\u201cLast-mile properties are important as an investment because if you aren\u2019t close to the customer, you simply won\u2019t profit,\u201d Dalfen said.<\/em><\/p>\n\n\n\n

Asked about strategy, he mentioned, \u201cWe build our portfolio one asset at a time using a proprietary data-based last-mile scoring methodology and boots-on-the-ground experts to determine opportunities with optimal location and value.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"

The last-mile properties total about 2.1 million square feet.<\/p>\n","protected":false},"author":1068,"featured_media":1004744878,"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":[32892,48641,33435,33272],"class_list":["post-1004744855","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-featured","category-industrial","category-investment","category-national","category-latest","tag-blackstone","tag-dalfen-industrial","tag-goldman-sachs","tag-sean-dalfen"],"acf":[],"yoast_head":"\nGoldman Sachs, Dalfen Pay $293M for Blackstone Industrial Portfolio - Commercial Property Executive<\/title>\n<meta name=\"description\" content=\"Goldman Sachs Alternatives and Dalfen Industrial acquired a 2.1 million-square-foot last-mile logistics portfolio from Blackstone.\" \/>\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\/goldman-sachs-dalfen-pay-293m-for-blackstone-industrial-portfolio\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Goldman Sachs, Dalfen Pay $293M for Blackstone Industrial Portfolio\" \/>\n<meta property=\"og:description\" content=\"Goldman Sachs Alternatives and Dalfen Industrial acquired a 2.1 million-square-foot last-mile logistics portfolio from Blackstone.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/goldman-sachs-dalfen-pay-293m-for-blackstone-industrial-portfolio\/\" \/>\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=\"2025-01-30T12:12:54+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-01-30T13:27:22+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/01\/1300-Wigwam-Parkway-edited.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"926\" \/>\n\t<meta property=\"og:image:height\" content=\"695\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Gail Kalinoski\" \/>\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\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/goldman-sachs-dalfen-pay-293m-for-blackstone-industrial-portfolio\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/goldman-sachs-dalfen-pay-293m-for-blackstone-industrial-portfolio\/\",\"name\":\"Goldman Sachs, Dalfen Pay $293M for Blackstone Industrial Portfolio - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/goldman-sachs-dalfen-pay-293m-for-blackstone-industrial-portfolio\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/goldman-sachs-dalfen-pay-293m-for-blackstone-industrial-portfolio\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/01\/1300-Wigwam-Parkway-edited.jpg\",\"datePublished\":\"2025-01-30T12:12:54+00:00\",\"dateModified\":\"2025-01-30T13:27:22+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/fc5b5df1393e5023d2417bd48c2fda57\"},\"description\":\"Goldman Sachs Alternatives and Dalfen Industrial acquired a 2.1 million-square-foot last-mile logistics portfolio from Blackstone.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/goldman-sachs-dalfen-pay-293m-for-blackstone-industrial-portfolio\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/goldman-sachs-dalfen-pay-293m-for-blackstone-industrial-portfolio\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/goldman-sachs-dalfen-pay-293m-for-blackstone-industrial-portfolio\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/01\/1300-Wigwam-Parkway-edited.jpg\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/01\/1300-Wigwam-Parkway-edited.jpg\",\"width\":926,\"height\":695,\"caption\":\"Exterior shot of the industrial building at 1300 Wigwam Parkway in Henderson, Nev.\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/goldman-sachs-dalfen-pay-293m-for-blackstone-industrial-portfolio\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.commercialsearch.com\/news\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Goldman Sachs, Dalfen Pay $293M for Blackstone Industrial Portfolio\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/\",\"name\":\"Commercial Property Executive\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.commercialsearch.com\/news\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/fc5b5df1393e5023d2417bd48c2fda57\",\"name\":\"Gail Kalinoski\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/04\/Gail-Kalinoski-headshot.jpeg?w=86\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/04\/Gail-Kalinoski-headshot.jpeg?w=86\",\"caption\":\"Gail Kalinoski\"},\"description\":\"Kalinoski has been a contributing writer to Commercial Property Executive and Multi-Housing News since 2010 and previously wrote for three years for Commercial Property News. Gail has been a freelance writer and editor for more than 20 years, contributing to daily websites, magazines, weekly business newspapers, market intelligence newsletters, research reports, monthly B-to-B and consumer magazines. Earlier in her career, Gail worked for Gannett Corp. as an editor and reporter for 15 years. Gail has a bachelor\u2019s degree in journalism from Pace University.\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/author\/gail-kalinoski\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Goldman Sachs, Dalfen Pay $293M for Blackstone Industrial Portfolio - Commercial Property Executive","description":"Goldman Sachs Alternatives and Dalfen Industrial acquired a 2.1 million-square-foot last-mile logistics portfolio from Blackstone.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.commercialsearch.com\/news\/goldman-sachs-dalfen-pay-293m-for-blackstone-industrial-portfolio\/","og_locale":"en_US","og_type":"article","og_title":"Goldman Sachs, Dalfen Pay $293M for Blackstone Industrial Portfolio","og_description":"Goldman Sachs Alternatives and Dalfen Industrial acquired a 2.1 million-square-foot last-mile logistics portfolio from Blackstone.","og_url":"https:\/\/www.commercialsearch.com\/news\/goldman-sachs-dalfen-pay-293m-for-blackstone-industrial-portfolio\/","og_site_name":"Commercial Property Executive","article_publisher":"https:\/\/www.facebook.com\/CPExecutive","article_published_time":"2025-01-30T12:12:54+00:00","article_modified_time":"2025-01-30T13:27:22+00:00","og_image":[{"width":926,"height":695,"url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/01\/1300-Wigwam-Parkway-edited.jpg","type":"image\/jpeg"}],"author":"Gail Kalinoski","twitter_card":"summary_large_image","twitter_creator":"@cpexecutive","twitter_site":"@cpexecutive","schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.commercialsearch.com\/news\/goldman-sachs-dalfen-pay-293m-for-blackstone-industrial-portfolio\/","url":"https:\/\/www.commercialsearch.com\/news\/goldman-sachs-dalfen-pay-293m-for-blackstone-industrial-portfolio\/","name":"Goldman Sachs, Dalfen Pay $293M for Blackstone Industrial Portfolio - Commercial Property Executive","isPartOf":{"@id":"https:\/\/www.commercialsearch.com\/news\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.commercialsearch.com\/news\/goldman-sachs-dalfen-pay-293m-for-blackstone-industrial-portfolio\/#primaryimage"},"image":{"@id":"https:\/\/www.commercialsearch.com\/news\/goldman-sachs-dalfen-pay-293m-for-blackstone-industrial-portfolio\/#primaryimage"},"thumbnailUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/01\/1300-Wigwam-Parkway-edited.jpg","datePublished":"2025-01-30T12:12:54+00:00","dateModified":"2025-01-30T13:27:22+00:00","author":{"@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/fc5b5df1393e5023d2417bd48c2fda57"},"description":"Goldman Sachs Alternatives and Dalfen Industrial acquired a 2.1 million-square-foot last-mile logistics portfolio from Blackstone.","breadcrumb":{"@id":"https:\/\/www.commercialsearch.com\/news\/goldman-sachs-dalfen-pay-293m-for-blackstone-industrial-portfolio\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.commercialsearch.com\/news\/goldman-sachs-dalfen-pay-293m-for-blackstone-industrial-portfolio\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.commercialsearch.com\/news\/goldman-sachs-dalfen-pay-293m-for-blackstone-industrial-portfolio\/#primaryimage","url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/01\/1300-Wigwam-Parkway-edited.jpg","contentUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/01\/1300-Wigwam-Parkway-edited.jpg","width":926,"height":695,"caption":"Exterior shot of the industrial building at 1300 Wigwam Parkway in Henderson, Nev."},{"@type":"BreadcrumbList","@id":"https:\/\/www.commercialsearch.com\/news\/goldman-sachs-dalfen-pay-293m-for-blackstone-industrial-portfolio\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.commercialsearch.com\/news\/"},{"@type":"ListItem","position":2,"name":"Goldman Sachs, Dalfen Pay $293M for Blackstone Industrial Portfolio"}]},{"@type":"WebSite","@id":"https:\/\/www.commercialsearch.com\/news\/#website","url":"https:\/\/www.commercialsearch.com\/news\/","name":"Commercial Property Executive","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.commercialsearch.com\/news\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/fc5b5df1393e5023d2417bd48c2fda57","name":"Gail Kalinoski","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/image\/","url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/04\/Gail-Kalinoski-headshot.jpeg?w=86","contentUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/04\/Gail-Kalinoski-headshot.jpeg?w=86","caption":"Gail Kalinoski"},"description":"Kalinoski has been a contributing writer to Commercial Property Executive and Multi-Housing News since 2010 and previously wrote for three years for Commercial Property News. Gail has been a freelance writer and editor for more than 20 years, contributing to daily websites, magazines, weekly business newspapers, market intelligence newsletters, research reports, monthly B-to-B and consumer magazines. Earlier in her career, Gail worked for Gannett Corp. as an editor and reporter for 15 years. Gail has a bachelor\u2019s degree in journalism from Pace University.","url":"https:\/\/www.commercialsearch.com\/news\/author\/gail-kalinoski\/"}]}},"jetpack_featured_media_url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/01\/1300-Wigwam-Parkway-edited.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004744855","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/users\/1068"}],"replies":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/comments?post=1004744855"}],"version-history":[{"count":7,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004744855\/revisions"}],"predecessor-version":[{"id":1004744955,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004744855\/revisions\/1004744955"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media\/1004744878"}],"wp:attachment":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media?parent=1004744855"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/categories?post=1004744855"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/tags?post=1004744855"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}