Blackstone is providing $475m (€407.7m) in construction financing for a new US distribution facility long-term leased to grocery retailer Ahold Delhaize USA.
Blackstone Credit & Insurance will fund and own the grocery distribution centre in Burlington, North Carolina, which will be occupied by Ahold Delhaize USA, as part of a triple-net lease agreement that includes an option for the retailer to purchase the property in the future.
Construction is expected to begin in the first quarter of this year, with an anticipated start of operations in 2029.
Christopher Yonan, head of European infrastructure, Blackstone Credit & Insurance, said: “We are pleased to support Ahold Delhaize USA and enable a critical long‑term investment in its US supply chain.
“This investment reflects our focus on partnering with leading investment-grade corporations globally by providing flexible, low-cost capital through our credit and insurance platform.”
JJ Fleeman, CEO, Ahold Delhaize USA, said: “Ahold Delhaize USA, along with its distribution arm ADUSA Distribution, is proud to partner with Blackstone Credit & Insurance on this new distribution centre.
“Through the new distribution centre, ADUSA Distribution and ADUSA Transportation will expand their capacity to support Food Lion’s growth in the state, along with bringing new jobs. We continue to be very excited about locating this facility in North Carolina as we grow our presence in a state where our companies have done business for more than 65 years.”
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