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Report: Blackstone affiliate buys Prologis Fla. portfolio for more than $110M

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Report: Blackstone affiliate buys Prologis Fla. portfolio for more than $110M

Blackstone Group LP affiliate Equity Office paid more than $110 million to acquire a portfolio of properties in Florida's Broward and Palm Beach counties from Prologis Inc., The Real Deal reported, citing property records.

An $83.5 million loan from Wells Fargo was used to fund the transaction, and the portfolio includes industrial buildings in Hollywood, Fort Lauderdale, Pompano Beach, Delray Beach, Mangonia Park, Dania Beach and Coconut Creek, according to the report.

Equity Office also acquired properties in Seminole and Miami-Dade counties in Florida, as well as in Illinois and Wisconsin, the report noted, adding that the sales in Miami-Dade County have yet to clear records.

Equity Office and Prologis were not immediately available to comment, the report said.