Blackstone Buys Portfolio of Logistics Centers for $1.5 Billion

Private equity giant, Blackstone Group, purchased a 12-million square foot portfolio of logistic centers for $1.5 billion from LBA Realty, according to the Wall Street Journal. Most of the purchased portfolio is located in the western U.S.

The logistic sector is experiencing hot growth due to the growth of ecommerce by giant internet companies such as Amazon.

Blackstone is the world’s largest private real-estate owner