BREIT Acquires USD1.8 Billion Canyon Industrial Portfolio

Blackstone Real Estate Income Trust, Inc. better known as (“BREIT”) said that it received the Canyon Industrial Portfolio.  It has been a great achievement for BREIT as Canyon Industrial Portfolio is a 22-million square foot portfolio of industrial assets.  The Canyon Industrial portfolio values approximately $1.8 billion.

What Is The Canyon Industrial Portfolio

The Canyon Industrial Portfolio has 146 distribution buildings and infill warehouses. They have prime concentrations in Dallas, Chicago, Washington D.C. , Baltimore, Inland Empire, Los Angeles and South/Central Florida.  The physical quality of the assets is very high and concentrated in great locations. The portfolio comprises of creditworthy and strong client base. The client consists of FedEx, Amazon, Coca-Cola, DHL, the US Government and Fiat Chrysler.

Blackstone Real Estate Income Trust aims and focuses on real estate asset classes and geographic markets. The Canyon transaction exemplifies the focus of BREIT. According to A.J. Agarwal, who is the President of BREIT and Head of US Core and Real Estate, Blackstone, BREIT focuses on income-producing and stable warehouse and apartment assets.

As the acquisition closes down, the portfolio of BREIT totals $7 billion in gross asset value in around 272 assets. It is concentrated in 33-million square feet of industrial assets and around 17,200 multifamily apartments. Additionally, the apartments have good exposure to shopping centres and different service hotels.

Blackstone Real Estate Income Trust

BREIT is a Real Estate Income Trust which aims at investing in income generating commercial real estates of US.  The list comprises of industrial, multifamily, retail and hotel assets. It also invests in real estate-related securities but to a lesser extent. Moreover, BX REIT Advisors L.L.C, which is a subsidiary of Blackstone manages BREIT.  You can get further information at www.breit.com

Blackstone

It is one of the world’s leading investment firms is Blackstone. It creates a positive economic impact and long-term value and thus benefits its investors. It uses excellent people and flexible capital and thus aids companies solve their problems. You can get more information at www.blackstone.com

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