Asset Management

Blackstone snaps up Colony Capital warehouses unit for $5.9bn

Deal will be Blackstone’s second major purchase of a warehouse network this year

Blackstone Group has struck a deal to buy a portfolio of US industrial warehouses from Colony Capital for $5.9bn, including debt, furthering its bet on the continued growth of e-commerce.

The deal is Blackstone’s second major purchase of a warehouse network this year. In June, the company’s real-estate business signed a deal to buy the US warehouses of Singapore-based GLP for $18.7bn, including debt.

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