Blackstone to Acquire Property Assets From FRP Holdings
03.26.18
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The Firm represented affiliates of Blackstone Real Estate Partners VIII L.P. in connection with their purchase of 41 industrial warehouses and two adjacent land parcels from FRP Holdings, Inc. (“FRP Holdings”) for $358.9 million. The properties are located in Maryland, Virginia and Delaware. The acquisition is expected to close in the second or third quarter of 2018 and is subject to customary closing conditions, including approval by the shareholders of FRP Holdings.
The Simpson Thacher team includes Sas Mehrara, Michael Goldberg, Sam Rudik and Amy Oster (Real Estate); Ben Schaye, Philip Cooper and Seth Lowinger (M&A); Nancy Mehlman and Nicole Humphrey (Tax); Andrew Blau, Jeanne Annarumma and Joo Hyun Lee (Executive Compensation and Employee Benefits); Peter Vassilev and Drew Harmon (Funds); and Karen Hsu Kelley (Public Company Advisory Practice).