Blackstone Acquires Suburban Chicago Industrial Properties From CenterPoint Properties For $137M

Blackstone has acquired four suburban Chicago industrial properties near O'Hare International Airport for a total of $137 million from CenterPoint Properties. The properties are located at 10701 Seymour Avenue, 10601 Seymour Avenue, 1601 Estes Avenue, and 10700 Waveland Avenue. These industrial assets are situated in Franklin Park and Elk Grove Village, contributing to their strategic value.

Summary of transaction details:

• Property Type: Industrial
• Transaction Amount: $137,000,000
• Buyer: Blackstone (represented by Stephen Schwarzman)
• Seller: CenterPoint Properties (represented by Mohammed Alam)
• Date: 10/24/2023

This acquisition by Blackstone follows a decline in their real estate sales and profits during the third quarter of 2023. However, it signifies their ongoing success in acquiring properties, reflecting a history of successful transactions between Blackstone and CenterPoint Properties. The purchase of these industrial assets near O'Hare International Airport aligns with Blackstone's investment strategy and their focus on acquiring prime assets in strategic locations.