- Blackstone acquired a $718M industrial portfolio from Crow Holdings, adding 6M SF of warehouse space across 25 properties in Dallas and Houston.
- Crow Holdings retains a 5% stake, with Blackstone holding the remaining 95%, underscoring continued institutional interest in high-quality logistics assets.
- The deal reinforces Blackstone’s logistics strategy, with its global warehouse portfolio now nearing $170B in value.
- Low vacancies and a slowdown in new supply are driving investor demand for US industrial real estate, even amid broader market volatility.
Blackstone’s Texas Play
Building on its massive logistics footprint, Blackstone Inc. is further expanding with a $718M purchase of industrial properties from Crow Holdings, according to Bloomberg.
The deal includes 6M SF of warehouse space across 25 buildings situated in key Texas markets like Dallas and Houston.
The transaction underscores Blackstone’s continued focus on high-demand logistics assets. As part of the deal, Crow Holdings—the developer of the properties—will retain a 5% interest, while Blackstone takes a controlling 95% stake.
A Sector in High Demand
This deal follows closely on the heels of Starwood Capital’s $685M warehouse acquisition from Goldman Sachs and Dalfen Industrial, adding to the surge of institutional interest in logistics.
Blackstone’s David Levine highlighted the strength of US industrial markets and low vacancy rates, emphasizing the firm’s strategy of investing through market cycles. “We are thrilled to acquire this high-quality portfolio located in some of the best-performing US industrial markets,” Levine said.
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Why It Matters
Logistics has become a cornerstone of Blackstone’s real estate strategy, with the firm’s global warehouse holdings now valued at nearly $170B. The industrial sector has proven resilient, supported by e-commerce demand, supply chain reconfigurations, and limited new construction activity.
Blackstone used its Core+ real estate funds to acquire the portfolio, aiming to grow long-term value through stable, income-generating industrial assets.
Looking Ahead
With warehouse supply tight and leasing demand strong, investors like Blackstone are actively targeting high-quality logistics properties—especially in Sun Belt markets like Texas. Amid ongoing market volatility, logistics remains one of the most sought-after asset classes in commercial real estate.
