Simpson Thacher Represents Blackstone in $241.5 Million Acquisition of 23 Industrial Properties from First Potomac Realty Trust
05.22.13
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The Firm is representing an affiliate of Blackstone Real Estate Partners VII in connection with the announced acquisition of 23 U.S. warehouses from First Potomac Realty Trust for $241.5 million. The industrial properties, which comprise approximately four million square feet, are located in southern Virginia and the Washington, D.C. and Baltimore, MD metropolitan areas. The transaction is expected to close by the end of the second quarter of 2013 and is subject to customary closing conditions.
First Potomac Realty Trust is a self-administered, self-managed real estate investment trust that focuses on owning, operating, developing and redeveloping office and industrial properties in the greater Washington, D.C. region.
The Simpson Thacher team includes Sas Mehrara, Davis Coen and Justin Vilinsky (Real Estate), and Nancy Mehlman and Chang Choi (Tax).