Blackstone pays $770m for Dexus Property assets
The Blackstone Group has paid $770 million for 65 US industrial assets owned by Australia’s Dexus Property Group. Investing via affiliates of Blackstone Real Estate Partners VII, the firm will acquire properties including three warehouses leased to Whirlpool Corp.
Dexus boosted occupancies in its central US properties by 12.8% in the second half of 2011 in a bid to attract higher offers. The sale price is in line with the net book value projected for the company...
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