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Goldman Sachs/Dalfen Partnership Acquires Infill Portfolio from Blackstone
Goldman Sachs Alternatives and Dalfen Industrial acquired a 21-building, 2.1-million-square-foot portfolio of infill logistics properties for a reported $293 million. The deal was acquired off-market from Blackstone and adds assets across Dallas, Las Vegas, Cincinnati and Pennsylvania to a Goldman/Dalfen portfolio that now totals 94 buildings and 19 million square feet.
The newly acquired portfolio is 92% leased to 68 tenants, including Amazon, Red Bull and Packaging Corporation of America. It includes last-mile facilities, which Bloomberg News reported are becoming trickier to build due to residents’ complaints about truck traffic and noise pollution.
“Over time, those assets will go up substantially in value because of how necessary they are in our infrastructure,” Dalfen CEO Sean Dalfen told Bloomberg. “Last-mile industrial buildings are a finite resource because communities simply don’t want them.”
A Blackstone spokesperson told Bloomberg, ““Having executed our business plan at these properties, we are pleased to have reached this agreement and deliver a terrific outcome for our investors.”
- ◦Sale/Acquisition
