ESR snares Blackstone industrial property portfolio for $3.8bn

Hong Kong based-property corporate ESR has splashed out $3.8bn to shop for a portfolio of warehouses from US personal fairness company Blackstone in a transfer that can reset values around the nation and places on show the facility of the e-commerce growth. 

One of the world’s largest owners of commercial property has been heavily invested in real estate recently. March this year they acquired 22 logistics sites in a £120m deal.  

 Blackstone Group closed last year the largest real estate debt fund ever, giving the investment firm plenty of cash to lend to property investors looking to go shopping during the coronavirus pandemic. With $8bn in committed capital. Blackstone’s real estate debt business has grown to $26bn of property debt assets under management, up from $10bn five years ago. Overall, its global real estate portfolio is valued at $329bn.

As mergers and acquisitions dry up globally in the face of the pandemic, private equity investors have continued to be relatively active, betting on sectors such as infrastructure and logistics.

Source: Beeion