Blackstone Adds to Warehouse Bet With $2.8 Billion Portfolio of Properties
November 30, 2021 | Ryan Hesketh | Bloomberg
Blackstone Inc. bought a portfolio of 124 logistics properties from Cabot Properties Inc. for $2.8 billion, the private equity company’s latest wager on warehousing in Europe and the U.S.
The sales comprised 102 properties in the U.S. and 22 in the U.K., Germany and the Netherlands, according to a statement Tuesday. The two deals total 17.4 million square feet (1.6 million square meters) of space.
Warehouses are among Blackstone’s biggest bets, with the firm banking on sustained demand and rising rents for properties that cut delivery times for booming e-commerce firms. Demand for the space has soared during the pandemic as more people shopped online rather than in stores.
