Blackstone Sells South Florida Warehouse Porfolio For $121M
The deal includes three warehouses totaling approximately 458,000 square feet.
The deal includes three warehouses totaling approximately 458,000 square feet.
A real estate fund managed by Ares Management purchased the portfolio from a joint venture (JV) partnership between Greystar and Butters Construction & Development.
The two-building portfolio was fully leased at the time of sale.
Year-over-year, the Miami industrial market experienced a 53 percent jump in rent.
The multifamily asset sold for $114.8 million. CLICK ON THE HEADLINE FOR MORE
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