Blackstone makes $18.7 billion investment in warehouses

Purchase of 179 million square feet of space from Singapore’s GLP is part of plan to meet e-commerce demand.

Blackstone makes $18.7 billion investment in warehouses

Purchase of 179 million square feet of space from Singapore’s GLP is part of plan to meet e-commerce demand.

Blackstone makes $18.7 billion investment in warehouses

Purchase of 179 million square feet of space from Singapore’s GLP is part of plan to meet e-commerce demand.

 

   Blackstone has purchased 179 million square feet of “urban, infill logistics assets” to serve the e-commerce industry from GLP, a Singapore investment manager, for $18.7 billion.
    Blackstone said the deal nearly doubles the size of its existing U.S. industrial footprint and that it is one of the leading owners of logistics properties today with assets in North America, Europe and Asia.
    “Logistics is our highest conviction global investment theme today, and we look forward to building on our existing portfolio to meet the growing e-commerce demand,” said Ken Caplan (pictured above), global co-head of Blackstone Real Estate.
    The company said, “In the U.S., Blackstone built and sold Indcor and successfully replicated this strategy with Logicor in Europe. Inclusive of this transaction, Blackstone has acquired over 930 million square feet of logistics globally since 2010.”

   GLP is a global investment manager with $64 billion in assets under management in real estate and a 785 million-square-foot portfolio. It said it will remain invested in the U.S. across real estate, technology and credit and is committed long term to the U.S. market.

Not that long ago, it seemed inconceivable that the good times in [U.S.] trucking would end, but here we are back down to Earth. Growth in manufacturing – the most significant driver of trucking activity – has subsided, and residential construction remains stagnant. However, there are some near-term positives, such as lower diesel prices. Also, carriers are responding to flagging demand by ending their hiring spree.

U.S. beef exports stood at 105,241 metric tons in April, down 5% year-over-year, while the nation’s pork exports totaled 216,757 metric tons during the month, down 6% year-over-year, according to the U.S. Meat Export Federation.

Most Popular
Latest News
Social Media

Loading...

St. Lawrence hands-free mooring technology deployed

St. Lawrence hands-free mooring technology deployed

Embed this story

Share Code Version 1

This version will embed the story headline and includes HTML fallback protection, ensuring the story will display even if some users decide to disable javascript in their browsers.

Copy & Paste the following code to embed this story on your website:

Preview

Blackstone makes $18.7 billion investment in warehouses

Purchase of 179 million square feet of space from Singapore’s GLP is part of plan to meet e-commerce demand.

Jun 06, 2019 on Dec 27, 2018AmericanShipper.com

Share Code Version 2

This version will embed the story headline without any styling applied. Use this version if you will use your own custom styling on your website. This version also includes HTML fallback protection.

Copy & Paste the following code to embed this story on your website:

Preview

Blackstone makes $18.7 billion investment in warehouses

Purchase of 179 million square feet of space from Singapore’s GLP is part of plan to meet e-commerce demand.

Jun 06, 2019 on Dec 27, 2018AmericanShipper.com