Blackstone Buys $1.8 Billion Warehouse Portfolio

Blackstone Real Estate Income Trust has acquired the Canyon Industrial Portfolio for $1.8 billion. the 22 million-square-foot portfolio is made up of 146 last-mile infill warehouses and distribution buildings with concentrations in Chicago, Dallas, Baltimore, Washington D.C., Los Angeles and Florida. Tenants include the the likes of Amazon, FedEx, DHL, Coca-Cola and the U.S. Government.

The acquisition was was possible through a $1.1 billion mortgage secured by the portfolio, a $200 million mezzanine loan and available cash. 

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