Blackstone, the private equity firm, has completed its $1.02Bn purchase of 180 industrial properties from ProLogis, a distribution facilities company in Denver, Colorado. The deal includes its North American industrial portfolio, its minority stake in the Hilton New Orleans Riverside, and ProLogis’s interest in three of its property funds.
(Reuters) – Private-equity firm Blackstone Group (BX.N) is buying a portfolio of 180 industrial properties from distribution facilities company ProLogis (PLD.N) for $1.02 billion, the companies said on Monday.
The portfolio also includes ProLogis’ minority interest in the Hilton New Orleans Riverside. Blackstone bought hotel chain Hilton in July 2007.
Blackstone has said it continues to see opportunities to invest in commercial real estate. It said in July that its real estate portfolio rose 19 percent during the second quarter. (Editing by Maureen Bavdek)