Dalfen, Goldman Pay $293M for Blackstone Warehouses

Goldman Sachs partnered with Dallas-based real estate firm Dalfen Industrial to purchase nearly $300 million worth of warehouses from Blackstone Inc. The 21-building warehouse portfolio includes properties in Dallas.

The buildings total nearly 2.1 million square feet and are almost completely leased, with 92% of the buildings leased to 68 tenants.

Goldman and Dalfen bought the portfolio for $293 million. The duo now owns 94 logistics buildings, totaling nearly 19 million square feet. The partnership dates back to mid-2020 when Dalfen and Goldman Sachs Merchant Banking Division acquired a 46-property last-mile industrial portfolio of more than 6.3 million square feet.

Dalfen Industrial owns more than 55 million square feet of industrial real estate nationwide. From 2019 to 2023, Dallas added roughly 110 million square feet of distribution and warehouse space.