B
lackstone has continued its efforts to reduce its industrial property holdings in South Florida by selling five warehouses in Sunrise for a combined $205.5 million. This sale follows the company's recent disposal of 10 industrial properties across Miami-Dade, Broward, and Palm Beach counties for $331.3 million.

    The latest deal saw affiliates of Blackstone subsidiary Link Logistics sell the industrial facilities to Elion Partners, a Miami-based firm led by managing partners Shlomo Khoudari, Jack Azout, Juan DeAngulo, and Sylvain Argy. The properties were acquired by Elion at varying prices: $102.6 million for Marina West Business Center, $49.6 million for International Center, $37.9 million for Sunrise Distribution Center, and $15.3 million for Sawgrass Center.

    This transaction marks the second time this year that Elion and Link have collaborated on an industrial deal, having sold a manufacturing facility in Pompano Beach to Link for $20.7 million in May. Blackstone's efforts to divest its industrial portfolio come after it recently sold 10 industrial sites with 26 warehouses across several South Florida locations to Longpoint Realty Partners for $331.3 million. Additionally, the company shed a 349-unit apartment complex in Miramar, selling Bell Miramar Place to Bell Partners for $121.3 million last month.