{"id":1004763886,"date":"2025-07-04T04:48:15","date_gmt":"2025-07-04T12:48:15","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004763886"},"modified":"2025-08-04T04:13:16","modified_gmt":"2025-08-04T12:13:16","slug":"blackstones-6-msf-industrial-portfolio-deal-closes","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/blackstones-6-msf-industrial-portfolio-deal-closes\/","title":{"rendered":"Blackstone\u2019s 6 MSF Industrial Portfolio Deal Closes"},"content":{"rendered":"\n<p>Crow Holdings has completed the recapitalization of a 6 million-square-foot industrial portfolio with Core+ funds affiliated with Blackstone Real Estate. Newmark represented Crow Holdings in the deal.<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"alignright size-full is-resized\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/07\/Crow_Holdings_Blackstone-portfolio.jpg\"><img loading=\"lazy\" decoding=\"async\" width=\"800\" height=\"600\" data-attachment-id=\"1004763990\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/blackstones-6-msf-industrial-portfolio-deal-closes\/crow_holdings_blackstone-portfolio\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/07\/Crow_Holdings_Blackstone-portfolio.jpg\" data-orig-size=\"800,600\" 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;1&quot;}\" data-image-title=\"Crow_Holdings_Blackstone portfolio\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;Crow Holdings has completed the recapitalization of a 6 million-square-foot industrial portfolio with Core+ funds affiliated with Blackstone Real Estate. Image courtesy of Newmark&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/07\/Crow_Holdings_Blackstone-portfolio.jpg?w=800\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/07\/Crow_Holdings_Blackstone-portfolio.jpg\" alt=\"Crow Holdings has completed the recapitalization of a 6 million-square-foot industrial portfolio with Core+ funds affiliated with Blackstone Real Estate\" class=\"wp-image-1004763990\" style=\"width:400px\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/07\/Crow_Holdings_Blackstone-portfolio.jpg 800w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/07\/Crow_Holdings_Blackstone-portfolio.jpg?resize=300,225 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/07\/Crow_Holdings_Blackstone-portfolio.jpg?resize=768,576 768w\" sizes=\"auto, (max-width: 800px) 100vw, 800px\" \/><\/a><figcaption class=\"wp-element-caption\">Crow Holdings has completed the recapitalization of a 6 million-square-foot industrial portfolio with Core+ funds affiliated with Blackstone Real Estate. <em>Image courtesy of Newmark<\/em><\/figcaption><\/figure><\/div>\n\n\n<p>Under the terms of the transaction, which was <a href=\"https:\/\/www.commercialsearch.com\/news\/blackstone-snaps-up-6-msf-industrial-portfolio-for-718m\/\">first announced in April<\/a>, Blackstone acquired a 95 percent stake in the portfolio, and Crow Holdings and its partners retained 5 percent. The portfolio comprises 25 Class A infill buildings in the Dallas, Houston and Chicago metro areas.<\/p>\n\n\n\n<p>A Newmark spokesperson did not immediately reply to <em>Commercial Property Executive<\/em>\u2019s request for additional information.<\/p>\n\n\n\n<p>Newmark Senior Managing Director Dom Espinosa, President &amp; Global Head of Industrial &amp; Logistics Capital Markets Jack Fraker, Vice Chairman Dustin Volz and Executive Vice Chairman Kevin Donner advised Crow Holdings in the transaction. The company&#8217;s Co-Head of U.S. Capital Markets Adam Spies, Executive Vice Chairmen Marcella Fasulo and Josh King also supported negotiations.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity has-very-light-gray-to-cyan-bluish-gray-gradient-background has-background is-style-wide\"\/>\n\n\n\n<p><strong>READ ALSO<\/strong>: <a href=\"https:\/\/www.commercialsearch.com\/news\/naiop-special-report-will-tariffs-tax-cres-industrial-sector\/\">Will Tariffs Tax CRE\u2019s Industrial Sector?<\/a><\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity has-very-light-gray-to-cyan-bluish-gray-gradient-background has-background is-style-wide\"\/>\n\n\n\n<p>Fraker commented on how the transaction demonstrates investor interest in well-located Class A logistics assets, and Espinosa added that it also underscores the strengths of the industrial markets in those three metros.<\/p>\n\n\n\n<p>Fried Frank was the legal counsel for Crow Holdings.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-both-industrial-and-not\">Both industrial and not<\/h2>\n\n\n\n<p>In another major transaction, a joint venture of Blackstone and Worthe Real Estate Group recently <a href=\"https:\/\/www.commercialsearch.com\/news\/report-blackstone-jv-sells-la-campus-for-120m\/\">sold the former Los Angeles headquarters of Forever 21<\/a>, the largely defunct fast-fashion retailer. The 1.8 million-square-foot campus, which featured both industrial and office space, was acquired by Related Fund Management and Newland Capital Group for $120 million.<\/p>\n\n\n\n<p>In June, Blackstone\u2019s Link Logistics unit <a href=\"https:\/\/www.commercialsearch.com\/news\/blackstone-unit-sells-vegas-industrial-park-for-175m\/\">sold the Las Vegas Logistics Center<\/a> to NorthPoint Development for $175 million. The 1 million-square-foot Class A industrial portfolio consists of three buildings in North Las Vegas.<\/p>\n\n\n\n<p>Colliers brokered the deal and arranged the $112.5 million acquisition financing from RGA Reinsurance Co. The transaction reportedly was one of the Las Vegas market\u2019s largest infill industrial deals so far this year.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Newmark represented Crow Holdings in the $718 million recapitalization.<\/p>\n","protected":false},"author":882,"featured_media":1004763990,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21748,21783,23891,21742],"tags":[32892],"class_list":["post-1004763886","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-industrial","category-investment","category-national","category-latest","tag-blackstone"],"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\u2019s 6 MSF Industrial Portfolio Deal Closes - 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