Blackstone’s US last-mile logistics real estate platform has disclosed making $340m worth of investments.
Link Logistics said it has invested the capital in five separate transactions in the US West Coast. The deals include the acquisition of existing assets totalling 1.8m sqft feet and one new development project.
Link bought two buildings in Los Angeles, one in San Francisco and two assets in the Inland Empire in Southern California. It also acquired a seven-acre site in the Inland Empire for a 134,000sqft building project expected to be completed in the second half of next year.
Link told IPE Real Assets: “All investments are focussed on adding near term value through leasing and development, moving to capitalise on strong leasing fundamentals and secular sector tailwinds.”
The investments on the West Coast are part of the 6.6m sqft of assets that the company purchased nationwide during the second quarter of this year.
According to Link, it bought 52 assets for $918m during the time period.
The company said it currently has a 14.1m sqft development pipeline, representing $2bn of investment as well as pending land acquisitions that would increase the development pipeline by 13m sqft.
Link was established by Blackstone in 2019.
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