Deals
Blackstone Said to Buy $800 Million of Dexus U.S. Warehouses
This article is for subscribers only.
Blackstone Group LP agreed to buy 69 warehouses valued at about $800 million from Australia’s Dexus Property Group, expanding its bet on a U.S. economic recovery, according to a person with knowledge of the deal.
The properties have a total of 16 million square feet (1.5 million square meters) and are located throughout the U.S.’s southern, mid-Atlantic and Midwest regions, said the person, who asked not to be named because the information is private. Blackstone owns more than 45 million square feet of industrial real estate through a Chicago-based company called IndCor Properties Inc.