Blackstone crowned kings of Austin CRE

Blackstone is officially the largest commercial property owner in Austin.

The New York-based firm, led by CEO Stephen Schwarzman, has amassed roughly 9 million square feet of commercial assets in the metro area, much of which has been developed or acquired since last year, the Austin Business Journal reported. 

Blackstone has been especially active in the industrial space. Link Logistics, a subsidiary of Blackstone, is developing a $28 million, three-building complex totalling 370,000 square feet in Round Rock, just north of Austin. There, Link is also nearing completion of Settlers Grove, a $38 million, 631,000-square-foot warehouse project.

On the eastern edge of Travis County, the firm is building a sprawling industrial complex on a 127-acre tract, near Tesla’s $1.1 billion manufacturing facility. Link oversees 102 industrial properties totalling about 8 million square feet in the Austin metro, according to its website.

Last year, Blackstone acquired student housing developer American Campus Communities for nearly $13 billion. American Campus owns more than 200 properties across the country, six of which are near the University of Texas at Austin, according to the firm’s website.

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Cousin Properties and Simon Property Group rounded out the top-three largest commercial owners in Austin. The highest-ranked local firm was HPI Real Estate Services & Investments, which oversees 3.6 million square feet in the city, including office and industrial holdings, the outlet reported. 

—Quinn Donoghue