Link Logistics, Blackstone’s US last-mile logistics real estate platform, has acquired a 725,000sqft industrial property in Dallas, according to sources.

IPE Real Assets understands that Link Logistics acquired the I-30 Distribution Center from Brookfield Asset Management.

Link Logistics declined to disclose the price of the acquired asset.

According to sources, the two-building asset at 3009 and 4001 Alder Drive was valued last year at approximately $91m (€84.6m).

Grant Matthews, a senior vice president of investments for Link Logistics, said: “As active acquirers and developers of last-mile facilities, the I-30 Distribution Center in Dallas aligns seamlessly with our strategy of owning premium logistics space in key submarkets.

”We look forward to working with the current tenants to foster success for their businesses while generating value for our stakeholders.”

Link Logistics, a major property owner in the Dallas industrial region, owns 40.9m square feet of space in 277 properties in the Dallas/Fort Worth metropolitan area.

To read the latest IPE Real Assets magazine click here.