Colony Capital has closed the previously announced sale of its light industrial logistics assets and its affiliated industrial operating platform to Blackstone Real Estate Partners IX, an affiliate of Blackstone, for an aggregate price of $5.7 billion.
The sale includes approximately 60 million square feet of last-mile, infill light industrial properties consisting of 465 assets in 26 markets across the United States, with significant concentration in Dallas, Atlanta, Chicago, Florida and New Jersey. The aggregate net sales proceeds to Colony are approximately $1.2 billion.
The transaction was initially announced on Sept. 30, 2019, for $5.9 billion and at the time included both Colony’s light and bulk industrial assets; however, the closing excludes Colony’s 51 percent ownership interest in its bulk industrial logistics portfolio.
