Blackstone Refinances 59-Property Industrial Portfolio Across 13 States For $1B With Goldman Sachs

This article discusses a significant transaction involving a 59-property industrial portfolio totaling 11.6 million square feet across multiple states, including California, Florida, Indiana, Ohio, and Georgia. The entire portfolio is 96.2% leased. The assets include a diverse mix of warehouses, cold storage, and light industrial properties, contributing to its extensive market presence.

Summary of transaction details:

• Property Type: Industrial
• Transaction Amount: $1,000,000,000
• Loan Amount: $1,000,000,000
• Loan Type: Refinance
• Loan Terms: interest-only, floating-rate
• Lender: Goldman Sachs, J.P. Morgan, Barclays Capital Real Estate Inc., and German American Capital
• Landlord: Stephen A. Schwarzman and Jon Gray - Blackstone Real Estate Income Trust (BREIT)

The refinancing deal for Blackstone's BREIT was notable for its structure and scale, involving multiple leading financial institutions. Key individuals in this transaction include Stephen A. Schwarzman and Jon Gray, representing Blackstone Real Estate Income Trust in this extensive refinancing effort.