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Blackstone Real Estate picks up industrial portfolio for $1.8B

Blackstone Real Estate Income Trust Inc. paid roughly $1.8 billion to buy a portfolio of 146 last-mile infill warehouses and distribution buildings across the U.S.

The Canyon industrial portfolio spans 22 million square feet and is mainly concentrated in Chicago; Dallas; Baltimore/Washington, D.C.; Los Angeles/Inland Empire, Calif.; and South/Central Florida.

The unit of private equity giant Blackstone Group LP said the portfolio is leased to tenants such as the U.S. government, Amazon, FedEx, DHL, Coca-Cola and Fiat Chrysler.