The Blackstone Group Buys GLP

The Blackstone Group Buys GLP

Fall 2019

The Blackstone Group buys GLP: A Look at Big Industrial Buys

Just when you thought the industrial real estate buying spree had hits its peak, another big deal closes. The recent high water mark was closed by The Blackstone Group in its acquisition of GLP’s US warehouse portfolio. Click here for more.

This involved 179 million square feet of urban logistics assets, for $18.7 billion, breaking the record as the largest private commercial real estate transaction globally. Blackstone’s focus on logistics is directly correlated to the growth in e-commerce, a coveted sector that is projected to see at least 10 percent annual growth.

The Blackstone Group is one of the largest real estate private equity firms in the world today with $157 billion of investor capital under management.

What does this acquisition mean for the industrial real estate market? The CoStar Group, a leading commercial real estate research and analytics firm, gives a closer look at the deal, including the properties involved.

Industrial Real Estate: Prologis to Acquire Liberty Property Trust for $126 billion

In another mammoth industrial acquisition, Prologis has plans to buy Liberty Property Trust for $12.6 billion, securing a bigger presence in Lehigh Valley, Chicago, Houston, Central PA, New Jersey and Southern California. Click here for more.

The board of directors of each company unanimously approved the transaction.

According to Prologis, the industrial real estate acquisition comprises:

  • 107 msf logistics operating portfolio; 87 percent overlap with key markets
  • 5.1 msf of logistics development in progress
  • 1,684 acres of land for future logistics development with build-out potential of 19.7 msf
  • 4.9 msf of an office operating and development portfolio

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