Stonemont, PCCP Acquire $1B Industrial Portfolio from Blackstone’s Link Logistics

Stonemont and capital partner PCCP have completed the $1-billion acquisition of a 38-building portfolio of industrial assets in key Sunbelt markets. On LinkedIn, Atlanta-based Stonenont identified the seller as Link Logistics, a Blackstone company.

The 95% leased, portfolio encompasses 5.9 million square feet across 10 states, with a concentration in high-growth markets that include Austin, Central Florida, Charlotte, Dallas and Phoenix. Stonemont said the newly acquired properties complement its existing industrial portfolio as well as its growing development pipeline, which currently includes 15 million-plus square feet across more than 1,150 acres.

“This transaction is a natural step for our firm and reflects our conviction in the long-term fundamentals of the industrial real estate sector,” said Zack Markwell, CEO and managing principal at Stonemont. “Our vertically integrated platform and experience operating and developing industrial properties position us to enhance the performance of these assets. We are pleased to have partnered with PCCP in this Transaction, which we believe will allow us to deliver meaningful value for our firm’s investors. Going forward, we will continue to pursue attractive acquisition opportunities alongside our active development program.”

The acquisition was financed through debt provided by JP Morgan and Wells Fargo. Eastdil Secured advised on the debt execution.

Pictured: A representative Stonemont industrial property in Wilmer, TX.

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

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