Blackstone Invests in South Florida Real Estate

https://dailyalts.com/wp-content/uploads/2020/08/Blackstone-1.jpg

Real Estate Boon Amid Pandemic. 

Blackstone Group announced its completion of a real estate transaction with Elion Partners, which includes industrial properties in Broward County.  The deal encompasses warehouses located in Weston, Coral Springs, and Pompano Beach.  Elion Partners initially paid $35 million for these properties in 2018 and 2019.  

Medical devices company Venus Concept and product manufacturer Nikao are the current tenants for the Weston warehouse.  The 66,000 square foot property was initially sold for $9 million.  Further, the Coral Springs warehouse is 43,000 square feet and was initially sold for $4.8 million.  Tenants include Waveguide Communications, and electronic transaction services provider JR’S POS Depot.  The Pompano Beach warehouse is 91,000 square feet.  Previously, Blackstone bought this property for $15.2 million.  Initially,  it was sold for $10.6 million.  Lastly, Blackstone also purchased a group of industrial buildings and an additional 41,000 square foot warehouse.  These Pompano Beach properties add up to over 29,000 square feet.

Fundamentally, South Florida’s industrial real estate market has proven to be extremely profitable and resilient despite the Coronavirus pandemic.  In fact, the second quarter was the strongest it has been in three years.  Consequently, industrial properties have been of greater interest to institutional investors like Blackstone.  Ultimately, with the rising e-commerce industry, South Florida and many other viable industrial property markets will benefit. 

Free Industry News

Subscribe to our free newsletter for updates and news about alternatives investments.

  • This field is for validation purposes and should be left unchanged.


Shape

Latest Alternative Investment News

https://dailyalts.com/wp-content/uploads/2022/12/ezgif.com-gif-maker.gif
Venture Capital: Swedish Electric Self-Driving Truck Start-up Einride Lands $500M
December 8, 2022     ESG and Sustainability, News, Venture Capital

Einride, the Swedish electric self-driving truck start-up, announced a raise of $500 million comprising an equity-based $200 million Series C portion from investors including Northzone, EQT Ventures, Temasek, Swedish pension…

https://dailyalts.com/wp-content/uploads/2022/12/whatsapp-icon-g93b9d385e_640.jpg
FinTech: Brazil’s MercadoLibre To Process Business Payments On WhatsApp
December 8, 2022     FinTech, News

Pedro Arnt, CFO at Latin American e-commerce retailer and fintech firm MercadoLibre (NASDAQ: MELI) is in discussions with Meta (NASDAQ: META) to process payments in Brazil on the latter’s WhatsApp…

https://dailyalts.com/wp-content/uploads/2022/12/architecture-gc5023d3e5_640.jpg
Alternative Investments/Real Estate: Dimensional Launches Global Real Estate ETF
December 8, 2022     Alternative Investments, News, Real Estate

Dimensional Fund Advisors has added a real estate ETF to its ETF line-up. The Dimensional Global Real Estate ETF offers investors the opportunity to invest in a variety of US…

https://dailyalts.com/wp-content/uploads/2022/12/movie-projector-run-by-a-lunatic.jpg
Artificial Intelligence: Soon, A New York Festival For AI-Created Films
December 8, 2022     Artificial Intelligence, News

Runway ML, the company behind text-to-image AI system Stable Diffusion, is hosting a festival of short films made using AI. Films with a runtime of between one and 10 minutes…