{"id":1004804602,"date":"2026-07-08T00:41:07","date_gmt":"2026-07-08T08:41:07","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004804602"},"modified":"2026-07-08T01:17:55","modified_gmt":"2026-07-08T09:17:55","slug":"blackstone-jv-to-secure-950m-for-industrial-portfolio","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/blackstone-jv-to-secure-950m-for-industrial-portfolio\/","title":{"rendered":"Blackstone JV to Secure $950M for Industrial Portfolio"},"content":{"rendered":"<div class=\"wp-block-image\">\n<figure data-wp-context=\"{&quot;imageId&quot;:&quot;6a4e2a40d46fa&quot;}\" data-wp-interactive=\"core\/image\" class=\"alignright size-full is-resized wp-lightbox-container\"><img loading=\"lazy\" decoding=\"async\" width=\"640\" height=\"480\" data-attachment-id=\"1004804604\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/500westendave_credityardimatrix-2\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2026\/07\/500WestEndAve_CreditYardiMatrix-edited.jpg\" data-orig-size=\"640,480\" 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;\\u00a9 Yardi Systems, Inc.&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=\"500WestEndAve_CreditYardiMatrix\" data-image-description=\"&lt;p&gt;Image downloaded via Yardi Matrix property page. https:\/\/matrix.pi-ei.com\/PropertyDetailCommercial\/All?MarketID=7&#038;PropertyID=2647&lt;\/p&gt;\n\" data-image-caption=\"&lt;p&gt;Located in Santa Ana, Calif., 500 West Warner Ave. carries the portfolio\u2019s largest allocated loan amount, at $63.7 million, or 6.7 percent of the loan balance. Image courtesy of Yardi Matrix&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2026\/07\/500WestEndAve_CreditYardiMatrix-edited.jpg?w=640\" data-wp-class--hide=\"state.isContentHidden\" data-wp-class--show=\"state.isContentVisible\" data-wp-init=\"callbacks.setButtonStyles\" data-wp-on-async--click=\"actions.showLightbox\" data-wp-on-async--load=\"callbacks.setButtonStyles\" data-wp-on-async-window--resize=\"callbacks.setButtonStyles\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2026\/07\/500WestEndAve_CreditYardiMatrix-edited.jpg\" alt=\"Exterior shot of 500 West End Ave., a 374,339-square-foot industrial facility in Santa Ana, Calif.\" class=\"wp-image-1004804604\" style=\"width:400px\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2026\/07\/500WestEndAve_CreditYardiMatrix-edited.jpg 640w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2026\/07\/500WestEndAve_CreditYardiMatrix-edited.jpg?resize=300,225 300w\" sizes=\"auto, (max-width: 640px) 100vw, 640px\" \/><button\n\t\t\tclass=\"lightbox-trigger\"\n\t\t\ttype=\"button\"\n\t\t\taria-haspopup=\"dialog\"\n\t\t\taria-label=\"Enlarge\"\n\t\t\tdata-wp-init=\"callbacks.initTriggerButton\"\n\t\t\tdata-wp-on-async--click=\"actions.showLightbox\"\n\t\t\tdata-wp-style--right=\"state.imageButtonRight\"\n\t\t\tdata-wp-style--top=\"state.imageButtonTop\"\n\t\t>\n\t\t\t<svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"12\" height=\"12\" fill=\"none\" viewBox=\"0 0 12 12\">\n\t\t\t\t<path fill=\"#fff\" d=\"M2 0a2 2 0 0 0-2 2v2h1.5V2a.5.5 0 0 1 .5-.5h2V0H2Zm2 10.5H2a.5.5 0 0 1-.5-.5V8H0v2a2 2 0 0 0 2 2h2v-1.5ZM8 12v-1.5h2a.5.5 0 0 0 .5-.5V8H12v2a2 2 0 0 1-2 2H8Zm2-12a2 2 0 0 1 2 2v2h-1.5V2a.5.5 0 0 0-.5-.5H8V0h2Z\" \/>\n\t\t\t<\/svg>\n\t\t<\/button><figcaption class=\"wp-element-caption\">Located in Santa Ana, Calif., 500 West Warner Ave. carries the portfolio\u2019s largest allocated loan amount, at 6.7 percent. <em>Image courtesy of Yardi Matrix<\/em><\/figcaption><\/figure><\/div>\n\n\n<p>A joint venture between Blackstone, GIC and LBA is set to secure a $950 million CMBS single-borrower refinancing loan backed by a 41-asset portfolio, according to a <a href=\"https:\/\/www.fitchratings.com\/research\/structured-finance\/fitch-to-rate-lba-trust-2026-lba6-presale-issued-06-07-2026\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">Fitch Ratings report<\/a>. Wells Fargo and JPMorgan Chase will co-originate the loan, with the deal expected to close later this month.<\/p>\n\n\n\n<p>The floating-rate, non-recourse, first-lien note carries full-term interest-only payments and has an initial two-year term and up to three one-year extensions options. The loan will be used to refinance existing debt and also encompasses closing costs.<\/p>\n\n\n\n<p>Deutsche Bank National Trust Co. will serve as trustee, BSP Special Servicer LLC as special servicer, while Trimont LLC will act as servicer.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-a-majority-of-california-assets\">A majority of California assets<\/h2>\n\n\n\n<p>Industrial properties account for 98 percent of the 8.3 million-square-foot portfolio, while the remaining assets comprise an office property and a land parcel. The majority of the collection is located in California (41.2 percent). Here, most facilities are in Los Angeles (10.7 percent), Orange County (6.7 percent) and East Bay (6.3 percent). The loan also covers Chicago (13 percent), Philadelphia (7.1 percent), Seattle (7 percent) and Orlando (6 percent).<\/p>\n\n\n\n<p>The average age of the collection is 24 years, with almost 45 percent of the properties coming online starting 2000. The average clear height for the buildings is approximately 28 feet.<\/p>\n\n\n\n<p>As of June, the portfolio was 84.8 percent leased to more than 65 unique tenants, reflecting broader <a href=\"https:\/\/www.commercialsearch.com\/news\/whats-next-for-industrial-real-estate\/\">industrial market trends<\/a>. The collection also features 23 single-tenant properties. Amazon accounts for 7.2 percent of total base rent, followed by Exel Inc. (5.1 percent), FedEx (4.8 percent), Global Mail Inc. (4.2 percent) and Clear Lam Packaging (4 percent).<\/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\/what-amazons-supply-chain-push-means-for-industrial\/\">What Amazon\u2019s Supply-Chain Push Means for Industrial<\/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>The largest assets by allocated loan amount are 500 West Warner Ave. in Santa Ana, Calif. (6.7 percent), 3825 Forsyth Road in Winter Park, Fla. (6 percent) and Rockefeller Crossing in Santa Clarita, Calif. (5.9 percent).<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-blackstone-s-recent-ventures\">Blackstone&#8217;s recent ventures<\/h2>\n\n\n\n<p>Other recent Blackstone ventures included receiving<a href=\"https:\/\/www.commercialsearch.com\/news\/blackstones-qts-to-secure-870m-refi\/\"> $870 million in refinancing<\/a> for five hyperscale data centers under QTS. The facilities are spread across Phoenix, Richmond, Va., and Dallas-Fort Worth, with a combined 181.5 megawatts of power and 1.5 million square feet.<\/p>\n\n\n\n<p>Last month, <a href=\"https:\/\/www.commercialsearch.com\/news\/blackstones-qts-eyes-1-3b-data-center-refi\/\">the firm also secured<\/a> a $1.3 billion CMBS refinancing loan for NAL1DC1, a 432,824-square-foot data center in New Albany, Ohio, in metro Columbus. <\/p>\n\n\n\n<p><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The deal is backed by a 41-asset collection.<\/p>\n","protected":false},"author":3909,"featured_media":1004804604,"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":[37482,32892,33650,32972,37933,33277],"class_list":["post-1004804602","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-featured","category-finance","category-industrial","category-national","category-latest","tag-amazon","tag-blackstone","tag-gic","tag-jp-morgan-chase-company","tag-lba-realty","tag-wells-fargo"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Blackstone JV to Secure $950M for Industrial Portfolio - Commercial Property Executive<\/title>\n<meta name=\"description\" content=\"A Blackstone joint venture will secure $950 million for a 41-property industrial portfolio. 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