Blackstone鈥檚 US last-mile logistics real estate platform Link Logistics has acquired a four-building industrial portfolio in the Chicago market.
91传媒在线 understands that Link Logistics paid $137m (鈧�125.9m) to acquire the fully-let portfolio, which was put up for sale by on behalf of CenterPoint Properties.
Link Logistics declined to disclose the purchase price of the assets, but Laura Hyde, SVP of investments in the central region for Link Logistics highlighted the portfolio鈥檚 high quality and rarity.
Hyde said: 鈥淭he portfolio we acquired is a high-quality institutional-owned portfolio. This type of industrial real estate does not come up for sale very often in the greater Chicago market.鈥�
The assets comprise three properties located in the O鈥橦are sub-market and an asset in the Elk Grove Village region of Chicago.
鈥淭he O鈥橦are submarket is a very attractive market to own assets in as there is no room for new construction due to a lack of available land to build new properties,鈥� said Hyde.
Hyde added that there is a 鈥渟ignificant mark-to-market opportunity鈥� with this portfolio once the current leases in the properties come up for renewal.
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