Cabot Properties sells logistics portfolio to Blackstone for $2.8b
Blackstone and Cabot Properties, an investor, developer and operator of logistics properties throughout the United States, Europe and Australia, have announced that two vehicles affiliated with Blackstone Real Estate have acquired $2.8 billion of institutional-quality logistics assets from Cabot in two separate transactions.
Blackstone Real Estate Income Trust acquired the U.S. portfolio, which comprises 102 properties totaling 15.2 million square feet located in many of the strongest logistics markets including Southern California’s Inland Empire; Eastern Pennsylvania; South Florida; and the New York Metropolitan Area. In a separate transaction, Blackstone’s European Core+ business and its affiliates acquired the remaining European properties. These assets comprise 22 properties totaling 2.2 million square feet of prime industrial space across Europe’s most in-demand markets including the Midlands, Northwest and South-East in the United Kingdom; Amsterdam in the Nether