Blackstone to buy another industrial portfolio

FRP Holdings has entered into a contract to sell its 41 industrial warehouses and two adjacent lots to an affiliate of Blackstone Real Estate Partners VIII for $358.9 million.

The transaction is expected to close in the second or third quarter of 2018. Details of the transaction and the conditions to its closing are described in the company's current report on Form 8-K filed with the Securities and Exchange Commission.

More than three-quarters of the assets are in Maryland, with the rest in Virginia and Delaware.

Recently, Blackstone Real Estate Income Trust acquired the Canyon Industrial Portfolio, a 22 million-square-foot portfolio of industrial assets, for approximately $1.8 billion.