WASHINGTON (dpa-AFX) - Blackstone (BX) and Crow Holdings announced that Core+ funds affiliated with Blackstone Real Estate have agreed to acquire a 95 percent stake in an industrial portfolio developed by Crow Holdings for $718 million. Crow and its partners will retain 5 percent ownership.
The portfolio consists of 25 Class A buildings totaling 6 million square feet and is predominantly located in high-barrier submarkets in Dallas and Houston. Crow Holdings is a privately held real estate firm founded in 1948 based in Dallas, Texas. The transaction is expected to close in the second quarter of 2025.
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