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lackstone and Crow Holdings Forge Industrial Portfolio Partnership
In a strategic move, Blackstone's Core+ funds have agreed to acquire a 95% stake in an industrial portfolio developed by Crow Holdings for $718 million. The remaining 5% ownership will be retained by Crow Holdings and its partners. This high-quality portfolio comprises 25 Class A buildings spanning 6 million square feet, predominantly situated in top-performing U.S. logistics markets such as Dallas and Houston.
"This partnership underscores Blackstone's commitment to investing during market volatility," said David Levine, Co-Head of Americas Acquisitions for Blackstone Real Estate. "We're proud owners of over $90 billion worth of warehouses in North America and nearly $170 billion globally, with logistics remaining a high conviction theme due to limited vacancy and reduced new construction starts."
Michael Levy, Chief Executive Officer at Crow Holdings, expressed enthusiasm about the partnership, highlighting the company's legacy in developing industrial properties. "We're thrilled to partner with Blackstone on this investment portfolio, which showcases our team's expertise in creating high-quality assets that attract top investors like Blackstone."
The transaction is expected to close in the second quarter of 2025.
About Blackstone Real Estate
As a global leader in real estate investing, Blackstone has $315 billion in investor capital under management. Founded in 1991, Blackstone's real estate business owns and operates assets across every major geography and sector, including logistics, data centers, residential, office, and hospitality. Their opportunistic funds target undermanaged, well-located assets worldwide, while their Core+ business invests in substantially stabilized real estate assets globally through institutional strategies and income-focused individual investor platforms like Blackstone Real Estate Income Trust, Inc. (BREIT).
