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California  + Orange County  + Industrial  | 

BREIT and LBA Bolster West Coast Industrial Portfolio

A recent acquisition represented a compelling opportunity to acquire last-mile industrial assets on the West Coast. Blackstone Real Estate Income Trust Inc. and LBA Logistics recently recapitalized two industrial portfolios owned by LBA comprising $1.6 billion of gross value.

BREIT acquired an approximately 60% combined interest across both portfolios, and LBA’s investment fund and its investors retained the balance. The portfolios comprise 71 assets totaling 9.5 million square feet and are approximately 95% occupied.

The vast majority of the assets are in California and Seattle, two of the best performing industrial markets in the country. Blackstone says logistics is one of its highest conviction global investment themes and this acquisition illustrates its continued momentum of executing on opportunities with significant growth potential.

With this closing, more than 90% of BREIT’s real estate investments are now in multifamily, industrial and net-leased assets, with industrial representing more than 35% of BREIT’s portfolio.

Eastdil Secured served as an advisor to Irvine-based LBA Logistics.

For comments, questions or concerns, please contact Lisa Brown

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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).

  • ◦Financing
  • ◦Sale/Acquisition
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