The Firm is representing Blackstone in connection with its acquisition of Colony Industrial, the industrial real estate assets and affiliated industrial operating platform of Colony Capital, for an aggregate purchase price of $5.9 billion.
The Colony Industrial last-mile light industrial portfolio represents the substantial majority of the total transaction and comprises approximately 60 million square feet of infill, logistics assets across 465 light industrial buildings in 26 U.S. markets. The transaction also includes Colony's 51% ownership interest in a four million square foot portfolio of bulk distribution assets and the affiliated operating platform, which manages the properties of both portfolios.
This transaction comes on the heels of the Firm’s representation of Blackstone in its $18.7 billion acquisition of logistics assets from GLP, the largest-ever private real estate transaction globally, which closed earlier in the week. These deals are the latest in a series of multi-billion dollar logistics transactions for Blackstone throughout the world. The Firm previously represented Blackstone in its sale of logistics assets to GLP for $8.1 billion, its sale of its pan European logistic company, Logicor, to China Investor Corporation for €12.25 billion and in its acquisitions of Gramercy Property Trust for $7.6 billion, Pure Industrial Real Estate Trust for C$3.8 billion and assets from Cabot Properties for $1.8 billion.
The Simpson Thacher team includes Brian Stadler, Matt Rogers, Hilary Albrecht and Alexander Yeagley (M&A); Sasan Mehrara, Erik Quarfordt, Ari Goldman, Rachel Stein, Sam Rudik, Willimina Bromer and Terry Kim (Real Estate); Nancy Mehlman, Tyler Robbins and Stefan Golubovic (Tax); Andrew Blau, Monisha Bhayana and Caitlin Grimes (Executive Compensation and Employee Benefits); and Genevieve Dorment (Intellectual Property).