Exterior of warehouse Cabot Industrial Value Fund IV acquired this Northlake, TX warehouse in 2013. (Photo courtesy of Yardi Matrix)

NEW YORK CITY—Three years after reaching a deal to sell its IndCor platform to a partnership of GLP and GIC Pte. Ltd., the Blackstone Group is ramping up again in the US industrial sector. Its non-traded Blackstone Real Estate Income Trust has signed an agreement to buy a 21.7-million-square-foot industrial portfolio from a Cabot Properties fund for approximately $1.8 billion.

When completed, the transaction will represent Blackstone’s biggest deal for US industrial since closing on the $8-billion sale of the IndCor platform in early 2015. In September of 2016, the asset management giant agreed to pay $1.5 billion to acquire a portfolio of 46 West Coast logistics centers from LBA Realty. Earlier this year, BREIT bought six million square feet of mainly infill industrial properties from High Street Realty, paying $402 million.

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