Colony Closes $5.7B Industrial Portfolio Deal with Blackstone

Colony Capital has sold a 60 million-square-foot light industrial portfolio to Blackstone Real Estate Partners IX for an aggregate price of $5.7 billion with aggregate net sales proceeds to Colony of approximately $1.2 billion..The deal was first announced in September.

The portfolio includes 60 million square feet of last-mile, infill light industrial assets. It totals 465 assets in 26 markets across the U.S., with significant concentration in Dallas, Atlanta, Chicago, Florida and New Jersey.

Willkie Farr & Gallagher served as legal counsel, and Morgan Stanley and Eastdil Secured served as financial advisors, and CBRE National Partners served as real estate advisor to Colony Capital.