Blackstone (BX) and Crow Holdings announced that Core+ funds affiliated with Blackstone Real Estate have agreed to acquire a 95% stake in an industrial portfolio developed by Crow Holdings for $718M. Crow Holdings and its partners will retain 5% ownership. The portfolio consists of 25 Class A buildings totaling 6M square feet and is predominantly located in high-barrier submarkets in Dallas and Houston, two of the top-performing U.S. logistics markets. The transaction is expected to close in Q2.
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