In addition, the private equity firm launched a fully-owned subsidiary to manage shopping centers in India, focusing on turning around underperforming malls in the country.
New York-based private equity firm Blackstone Group LP reached a $1.5 billion deal to purchase a portfolio of logistics centers across the United States from Irvine, Calif.-based investment company LBA Realty LLC.
Situated primarily along the U.S. West Coast, the 46 warehouses are about 95 percent occupied and comprise a total of 12 million square feet, according to a person with knowledge on the transaction, Bloomberg reported Tuesday.
In addition, The Times of India reported Wednesday Blackstone has entered India’s retailing sector by establishing Nexus Malls. The fully-owned subsidiary will manage shopping malls in India, focusing on turning around underperforming malls in the country.
Blackstone enters $1.5b deal to buy 46 warehouses
