Blackstone REIT and LBA Logistics recently partnered to recapitalize industrial properties. BREIT acquired a 60% stake in two industrial portfolios owned by LBA in a deal valued at $1.6 billion. The two portfolios totaled 71 properties and 9.5 million square feet.
While the properties are located in predominantly last mile locations in West Coast markets, specifically in Seattle and California, which are two top performing industrial markets in the country, the same strong fundamentals can be said for other regions of the country as well.
During the pandemic, several major institutions have increased exposure to the industrial sector, particularly in high-quality logistics and e-commerce markets. Brian Kim, head of acquisitions and capital markets for BREIT, said that logistics properties are the REIT's top investment priorities globally.
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Natalie Dolce
Natalie Dolce, editor-in-chief of GlobeSt.com, is responsible for working with editorial staff, freelancers and senior management to help plan the overarching vision that encompasses GlobeSt.com, including short-term and long-term goals for the website, how content integrates through the company’s other product lines and the overall quality of content. Previously she served as national executive editor and editor of the West Coast region for GlobeSt.com and Real Estate Forum, and was responsible for coverage of news and information pertaining to that vital real estate region. Prior to moving out to the Southern California office, she was Northeast bureau chief, covering New York City for GlobeSt.com. Her background includes a stint at InStyle Magazine, and as managing editor with New York Press, an alternative weekly New York City paper. In her career, she has also covered a variety of beats for M magazine, Arthur Frommer's Budget Travel, FashionLedge.com, and Co-Ed magazine. Dolce has also freelanced for a number of publications, including MSNBC.com and Museums New York magazine.
