Clarion Partners Refis 110-Property Industrial Portfolio With $415M Loan
Blackstone has secured a $415 million mezzanine loan from Clarion Partners as part of a package that will refinance a portion of Blackstone (BX)’s industrial portfolio comprising 110 industrial properties in 15 markets in the U.S., Commercial Observer has learned.
“Clarion Partners’ deep expertise in the logistics sector combined with our debt team’s long-standing focus on mezzanine financing positioned us to facilitate the transaction’s compressed time frame,” said Drew Fung, a managing director at Clarion Partners. “Clarion Partners is pleased to provide financing on this impressive portfolio of logistics properties.”
The 15.7 million-square-foot industrial portfolio is over 93 percent leased to a diverse roster of 300-plus local, regional and national tenants. The properties are located primarily in the Dallas-Fort Worth, Phoenix, Baltimore and Atlanta markets.
Blackstone did not immediately respond to a request for comment.
Emily Fu can be reached at efu@commercialobserver.com.
