Blackstone has arranged a $81.5 million loan for Faropoint to refinance 16 industrial properties.
The assets are located in Faropoint's Industrial Value Fund III, which raised $915 million after closing in June. The industrial properties are located in six undisclosed markets and span 1.2 million square feet.
The refinancing allows the real estate manager's debt sources to diversify while giving it flexibility to make acquisitions by freeing up capital.
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