Los AngelesColony 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.

 

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Kelsi Maree Borland

Kelsi Maree Borland is a freelance journalist and magazine writer based in Los Angeles, California. For more than 5 years, she has extensively reported on the commercial real estate industry, covering major deals across all commercial asset classes, investment strategy and capital markets trends, market commentary, economic trends and new technologies disrupting and revolutionizing the industry. Her work appears daily on GlobeSt.com and regularly in Real Estate Forum Magazine. As a magazine writer, she covers lifestyle and travel trends. Her work has appeared in Angeleno, Los Angeles Magazine, Travel and Leisure and more.