Blackstone Buys Industrial Portfolio with $218M Loan
July 9, 2020
The Blackstone Group Inc. unit Blackstone Real Estate Income Trust Inc. secured a $217.5 million loan to purchase a 27-building industrial portfolio across the U.S. Midwest, the Commercial Observer reported.
Blackstone reportedly closed on the roughly $400 million deal to acquire the 5.9 million-square-foot portfolio from CenterPoint Properties Trust on June 25.
The floating-rate loan has a five-year term, the publication noted, citing MetLife Investment Management, which provided the financing.
Blackstone did not immediately respond to an inquiry from the Commercial Observer.
Source: S&P Global Market Intelligence
