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Blackstone Real Estate pays $151M for 3 Chicago-area warehouses

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Blackstone Real Estate pays $151M for 3 Chicago-area warehouses

Blackstone Real Estate Income Trust Inc. picked up three warehouses in Aurora, Ill., from JPMorgan Chase & Co.'s JPMCB Strategic Property Fund for $151 million, Crain's Chicago Business reported, citing property records.

The Chicago-area properties included in the January transaction were an 860,000-square-foot warehouse at 1700 N. Edgelawn Drive, a 531,000-square-foot building at 2380 Sullivan Rd. and a 302,000-square-foot building at 2303 W. Indian Trail Road.

The Blackstone Group LP unit recently paid roughly $1.8 billion to acquire a U.S. industrial portfolio, including properties in the Chicago area.

Neither Blackstone nor J.P. Morgan commented on the matter, according to the publication.