March 13, 2018
Blackstone Real Estate Income Trust, Inc. acquired the Canyon Industrial Portfolio, a 22-million-square-foot portfolio of industrial assets, for roughly $1.8 billion. The portfolio is comprised of 146 last-mile infill warehouses and distribution buildings with major concentrations in Chicago, Dallas, Baltimore/Washington DC, Los Angeles/Inland Empire and South/Central Florida.
BREIT’s A.J. Agarwal says, “The Canyon transaction exemplifies BREIT’s focus on real estate asset classes and geographic markets with attractive fundamentals. BREIT’s portfolio, with its emphasis on stable, income-producing warehouse and apartment assets, is well-positioned to benefit from continued tailwinds in these sectors.”
The assets are of high physical quality and in attractive locations, and the portfolio features a strong, creditworthy tenant mix, including Amazon, FedEx, DHL, Coca-Cola, Fiat Chrysler and the U.S. Government.
For comments, questions or concerns, please contact Dennis Kaiser