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Blackstone to buy Colony Capital industrial real estate assets in a $5.9 billion deal

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Blackstone to acquire 50% stake in Hiranandani's logistics venture

Blackstone Group Inc. BX, -2.75% affiliate Blackstone Real Estate Partners IX confirmed Monday a deal to buy Colony Industrial, the industrial real estate assets and industrial operating platform of Colony Capital, for $5.9 billion, including debt. Colony Industrial’s portfolio represents about 60 million square feet of assets across 465 industrial buildings in 26 U.S. markets. The deal includes Colony’s 51% interest in a 4 million square foot portfolio of bulk distribution assets. The deal announcement confirms a report in The Wall Street Journal that said a deal was planned to be announced Monday. Blackstone’s stock, which was still inactive in premarket trading, has soared 68.5% year to date, while the Dow Jones Industrial Average DJIA, +0.36% has gained 15.0%.

Source: MarketWatch

(The story has been published from a wire feed without any modifications to the text)

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