The transaction involves a 25-building industrial portfolio located in Dallas and Houston, encompassing a total square footage of 6,000,000. The deal was struck at a price of $718,000,000, resulting in a price per square foot of $120. This portfolio is situated in high-demand logistics markets, indicating a strategic acquisition for the buyer.

Summary of transaction details:

• Property Type: Industrial
• Transaction Amount: $718,000,000
• Buyer: Stephen A. Schwarzman, Jonathan Gray & David Levine - Blackstone
• Seller: Michael Levy - Crow Holdings
• Square Footage: 6,000,000
• Price Per Square Foot: $120
• Market: Dallas & Houston
• Ownership Structure: Blackstone acquires a 95% stake; Crow Holdings retains a 5% ownership stake.
• Expected Closing: Q2 2025

This significant deal features key figures in the industry, with Stephen A. Schwarzman, Jonathan Gray, and David Levine representing Blackstone, while Michael Levy represents Crow Holdings. The partnership aims to enhance Blackstone's Core+ funds and leverage the prime logistics locations of the portfolio.