A multi-market investment sales team at Cushman & Wakefield has represented Blackstone Real Estate Income Trust (BREIT) in its $1.805 billion acquisition of a Cabot Properties’ portfolio primarily concentrated in core U.S. industrial markets.
The portfolio is comprised of 146 last-mile infill warehouses and distribution buildings with major concentrations in Chicago, Dallas, Baltimore/Washington, DC, Los Angeles/Inland Empire and South/Central Florida. The assets are of high physical quality and in attractive locations, and the portfolio features a strong, creditworthy tenant mix including Amazon, FedEx, DHL, Coca-Cola, Fiat Chrysler and the U.S. government.
Cushman & Wakefield’s team representing BREIT included executive managing director James Carpenter, based in Chicago; executive managing director Jeff Chiate, based in Irvine, CA; executive managing director Jud Clements, based in Dallas; vice chairman Mike Davis, based in Tampa; executive managing director Stewart Calhoun, based in Atlanta and executive managing director Gary Gabriel, based in New Jersey. CBRE and Eastdil Secured represented Cabot.
“Investors continue to have a healthy appetite for U.S. industrial real estate, driven by e-commerce and broader economic growth,” Carpenter said. “With record-breaking absorption, relatively conservative speculative development and forecasts for continued strong job growth, we anticipate industrial will remain the most sought-after asset class for the foreseeable future.”