Deals
Blackstone Extends Warehouse Bet in $5.9 Billion Colony Deal
- Building logistics empire to gain from shift to online retail
- Agrees to acquire 60 million square feet of logistics space
Photographer: Dean Hutton/Bloomberg
This article is for subscribers only.
Blackstone Group Inc., which has acquired more than 1 billion square feet of logistics space since 2010 as part of the firm’s global focus on e-commerce, is extending its bet on last-mile real estate.
The private equity giant agreed to buy Colony Industrial, the warehouse unit of Colony Capital Inc., for $5.9 billion. The deal includes about 60 million square feet of warehouse space across 465 light industrial buildings in 26 U.S. markets, as well as an affiliated operating platform, according to a statement Monday.