Blackstone Real Estate announced that its Core+ funds will acquire a 95% stake in a 6 million square foot industrial portfolio developed by Crow Holdings for $718 million. The portfolio includes 25 Class A buildings primarily located in the high-demand logistics markets of Dallas and Houston. Crow Holdings and its partners will retain the remaining 5% ownership.

David Levine of Blackstone emphasized the company’s strategy of investing in logistics during market volatility, noting the sector's strong performance and limited new supply. Blackstone currently owns over $90 billion in North American warehouse assets. Michael Levy, CEO of Crow Holdings, highlighted the legacy and quality of the portfolio, which continues a tradition that began with the company’s first warehouse in 1948.

The transaction is expected to close in Q2 2025.