By Dean Seal
Blackstone's real estate unit has agreed to acquire a 95% stake in an industrial portfolio developed by Crow Holdings for $718 million.
The firm said Thursday that Crow and its partners will retail a 5% stake in the portfolio, which consists of 25 Class A buildings that take up 6 million square feet and are predominantly located in high-barrier submarkets in Dallas and Houston.
The deal is expected to close in the second quarter.
"This transaction is another example of Blackstone Real Estate deploying capital during this period of market volatility," said David Levine, the unit's co-head of Americas acquisitions.
Write to Dean Seal at dean.seal@wsj.com
(END) Dow Jones Newswires
April 10, 2025 09:08 ET (13:08 GMT)
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