Blackstone pays $12.5M for two Orlando warehouses

Miami /
Apr.April 22, 2017 02:00 PM

An arm of The Blackstone Group bought two warehouses near Orlando International Airport for $12.5 million, or $99 per square foot.

A unit of Blackstone called Equity Office Management LLC bought the two warehouses from an entity linked to High Street Realty Co., based in Boston.

High Street Realty had paid $10 million in 2015 for the two warehouses: the Southport Industrial Center at 10805 Southport Drive in Orlando, which was built in 2007, and the Palmbay Center at 10950 Palmbay Drive, built in 2003.

The warehouse acquisitions are among several Orlando properties that Blackstone has acquired this month.

Entities of Blackstone last week paid $175.25 million to Boston-based TA Associates Realty LLC for two buildings in the Church Street Station area in downtown Orlando.

Blackstone entity BREIT MF 55 West LLC paid $105 million for a 461-unit apartment building called 55 West and a 74,000-square-foot commercial building, both located downtown on Church Street.

Another Blackstone entity spent $70.25 million to buy a 432-unit apartment property called the Estates at Park Avenue, located at 2801 Biltmore Park Drive in Orlando. [Orlando Business Journal]  — Mike Seemuth


Related Articles

arrow_forward_ios
David Martin and Russell Galbut with a rendering of 500 Alton Road
Miami Beach developers nab $345M construction loan for 500 Alton
Miami Beach developers nab $345M construction loan for 500 Alton
Blackstone’s Jon Gray and 2MiamiCentral (Getty, iStock)
Blackstone buys MiamiCentral office buildings for $230M
Blackstone buys MiamiCentral office buildings for $230M
From left: GLP Capital Partners’ Alan Yang, David Martin and Stephen Bittel with 7777 Northwest 41st Street in Doral (Google Maps; GLP; Terra)
Terra, Terranova sell 24-acre property in Doral for $55M
Terra, Terranova sell 24-acre property in Doral for $55M
Stephen Schwarzman with the site (Getty, Google Maps)
Blackstone pays $21M for Doral industrial dev site
Blackstone pays $21M for Doral industrial dev site
Blackstone's Jon Gray and 2MiamiCentral (Getty)
Blackstone inks lease at MiamiCentral in downtown Miami
Blackstone inks lease at MiamiCentral in downtown Miami
1930 Northwest 23rd Street with (from left) Shane Neman, Richard Kilstock and David Aaron (Getty, Arkadia, Neman Ventures)
Arkadia buys cold storage warehouse in Allapattah for $5M
Arkadia buys cold storage warehouse in Allapattah for $5M
Blackstone's Jonathan Gray and Stephen Schwarzman (Getty, iStock)
Blackstone to open office in South Florida
Blackstone to open office in South Florida
Jon Gray, 16100 Northwest 49 Avenue and 16200 Northwest 49 Avenue, Miami Gardens (Credit: Google Maps)
Blackstone snags eight industrial properties in Miami-Dade
Blackstone snags eight industrial properties in Miami-Dade
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...