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Transactions - FEBRUARY 21, 2020

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Blackstone buys more warehouses for $400m

by Andrea Zander

Blackstone has plans to pay approximately $400 million for a portfolio of 27 warehouses in the northern Chicago suburbs and southeast Wisconsin, one of the biggest local industrial real estate deals in years, reported media outlets. 

The seller was CenterPoint Properties.

The portfolio totals 5.9 million square feet and 16 properties in Illinois and 11 in Racine and Milwaukee, according to Real Estate Alert.

Blackstone has been active in the warehouse and logistics space. In 2019, Blackstone Real Estate Partners IX, a fund sponsored by Blackstone, acquired Colony Capital, for an aggregate purchase price of $5.7 billion.

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