Blackstone Refis Miami Industrial Portfolio With $805M
By Julia Echikson July 28, 2025 3:05 pm
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Despite selling more than $1 billion worth of industrial properties in Florida over the past year, investment management company Blackstone secured a $1.8 billion debt package to refinance some of its remaining buildings in the Sunshine State.
Wells Fargo is acting as the administrative agent for the debt, which is tied to a portfolio of Blackstone properties collectively worth just over $3 billion, according to public mortgage documents.
Florida properties account for just under 45 percent of the Blackstone portfolio, equating to $805 million of the financing. Nineteen properties are in Doral near Miami International Airport. Two others are in Miami Gardens and an unincorporated part of Miami near Opa-Locka.
The remaining warehouses are in New York, Virginia, Utah, Texas, Minnesota and Maryland.
The refinancing comes as the New York-based private equity giant and its Link Logistics affiliate have sold more than $1 billion in industrial assets in South Florida since November. Just last month, Link Logistics sold a 371,976-square-foot industrial campus near Miami International Airport for $90 million.
Other transactions included the $206 million sale of a four-building portfolio in Sunrise, the $160 million sale of an industrial park near the Miami-Opa Locka Executive Airport, and the $120 million sale of an industrial portfolio across Broward County.
A spokesperson for Blackstone declined to comment.
Julia Echikson can be reached at jechikson@commercialobserver.com.
