Real Estate

Blackstone Gets $120M Loan For North Carolina Industrial Buy

by cpexecutive.com posted 6months ago 78 views
PGIM Real Estate arranged the variable-rate loan for the 3 million-square-foot portfolio in Greensboro and Durham. : Blackstone Real Estate Income Trust has received a $120 million loan for the acquisition of 24 industrial properties in North Carolina. PGIM Real Estate arranged the floating-rate financing for the 3 million-square-foot portfolio deal in Greensboro and Durham. Public records show that Blackstone had acquired the portfolio through two deals totaling $211 million. Highwoods Properties traded the Greensboro parks for $180 million, while Strategic Capital Partners sold the Durham buildings for $31.2 million.

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