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The $3-billion deal for Pure Industrial Real Estate Trust will give Blackstone another 22 million-plus square feet of logistics space in both Canada and the US.
A quarter of the country's total population will be in the elder years within the coming decade, along with pressure to cut costs and new technologies, to result in boosted demand for medical office properties.
The facility will be an integral part of the Baylor Scott & White Medical Center Irving's campus and is located adjacent to Baylor Scott & White's 296-bed hospital serving the communities of Irving, Coppell and Grand Prairie, TX.
The newly announced partnership with Goldman Sachs is "one of the key components in building a more diversified, large-scale base of individual investors that can access the asset class in a more efficient and risk-adjusted manner," Cadre's Ryan Williams tells GlobeSt.com.
Mesa West Capital originates the loan in short-term first-mortgage debt to refinance two new luxury complexes developed and owned by Sunroad Enterprises in the 40-acre master-planned community Sunroad Centrum.