Andrew Rybczynski, senior consultant at the CoStar Group
NEW YORK CITY—Blackstone's purchase of 179 million square feet of urban logistics assets from GLP for $18.7 billion broke the record as the largest private real estate transaction globally. The private equity, alternative asset management and financial services company is focusing on logistics, building their portfolio in response to growing e-commerce.
The CoStar Group, a leading commercial real estate research and analytics firm, took a closer look at the deal, including the properties at stake. CoStar's senior consultant Andrew Rybczynski says their records indicate Blackstone previously owned approximately 55% of the square footage of the portfolio that they acquired in June.
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Betsy Kim
Betsy Kim was the bureau chief, East Coast, and New York City reporter for Real Estate Forum and GlobeSt.com. As a lawyer and journalist, Betsy has worked as the director of editorial and content for LexisNexis Lawyers.com, a TV/multi-media journalist for NBC and CBS affiliated TV stations in the Midwest, and an associate producer at Court TV.
