Blackstone acquires Colony Industrial in $5.9bn deal

Blackstone acquires Colony Industrial in $5.9bn deal

Published at: 2019-10-01 16:42 | Author: CIJ USA
Blackstone Real Estate Partners IX has agreed to acquire Colony Industrial, the industrial real estate assets and industrial operating platform of Colony Capital. Blackstone will pay $5.9bn for approximately 60 million sq ft of infill, logistics assets across 465 light industrial buildings on 26 US markets. The majority of the facilities are located in Dallas, Atlanta, Florida, New Jersey and California. The deal also includes Colony’s 51-percent ownership interest in a 4 million sq ft portfolio of bulk distribution assets and the operating platform which manages the properties of both portfolios. The aggregate net sales proceeds to Colony are expected to be in excess of $1.2bn. The transaction is expected to be completed by the fourth quarter of 2019.

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