Blackstone Real Estate Income Trust Secures $690M Loan For 44 Unit Industrial Portfolio In Multiple US Markets

The property involved in this closed transaction is a 44-unit industrial portfolio located in multiple markets including Raleigh-Durham and Greensboro, North Carolina; Boston, Massachusetts; El Paso, Texas; Atlanta, Georgia; Chicago, Illinois; Salt Lake City, Utah; and Minneapolis, Minnesota. The property consists of both industrial and office space.

Summary of transaction details

• Property Type: Industrial & Office
• Transaction Amount: $690,000,000
• Loan Type: Term Loan & Revolving Credit
• Loan Term: Two-year, floating-rate

The lender for this transaction is Wells Fargo Bank, and the landlord is Blackstone Real Estate Income Trust. The deal was facilitated by JLL, with brokers Trey Morsbach, Michael Cosby, Bo Beidleman, and Ryan Pollack representing the parties involved.