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Stock impact report

Rexford Industrial Acquires Blackstone Industrial Assets in Combined $1 Billion Investment [Yahoo! Finance]

Blackstone Inc. (BX) 
Last blackstone inc. earnings: 4/23 06:56 am Check Earnings Report
Company Research Source: Yahoo! Finance
trust focused on creating value by investing in and operating industrial properties located throughout infill Southern California , and Blackstone (NYSE: BX), today announced Rexford Industrial acquired approximately 3 million square feet of industrial properties pursuant to separate transactions with Blackstone Real Estate, including the Blackstone Property Partners strategy as well as Blackstone Real Estate Partners and Blackstone Real Estate Income Trust, for an aggregate purchase price of $1.0 billion The combined portfolio comprises 48 properties, totaling 3,008,000 square feet, acquired for $1.0 billion or per square foot on average. The combined portfolio is 98% leased, with 99% of the property square footage located within core, infill submarkets in Los Angeles and Orange counties. In aggregate, the investments are expected to generate a weighted average initial unlevered cash yield of 4.7% and an anticipated stabilized unlevered cash yield of 5.6%. These investments were fu Show less Read more
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