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Transactions - MAY 3, 2021

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Blackstone sells Australian logistics portfolio for $663m

by Andrea Zander

Blackstone has sold its 90 percent stake in the Fife industrial and logistics portfolio in Australia to PGIM Real Estate and Manulife for about A$850 million ($663 million), reported Australian Financial Review.

The portfolio totals 20 properties.

The sale comes shortly after Blackstone sold its Milestone Logistics portfolio to ESR Milestone Partnership, a collaborative venture between ESR and Singapore sovereign wealth fund GIC, for A$3.8 billion ($2.95 billion).

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