In a thunderous move through the fog of market uncertainty, Blackstone has inked a deal to acquire a 6 million-square-foot industrial portfolio from Crow Holdings for a jaw-dropping $718 million. This isn’t just another real estate transaction—it’s a bold bet on America’s logistics backbone during an era when many investors are still hiding in their bunkers.
The acquisition includes 25 Class A warehouse buildings strategically planted across Dallas and Houston, two of the U.S.’s most electrified logistics hubs. Blackstone will scoop up a 95% ownership stake, leaving Crow Holdings and its partners with a minority 5% slice of the pie.
High Stakes in High Demand Markets
For Blackstone, a firm already flexing with $90 billion in warehouse holdings across North America and $170 billion globally, this move represents both offense and defense. It’s about locking in premium logistics assets while the competition hesitates, and staking deeper roots in two cities that are shaping the future of goods movement.
“This deal reflects our confidence in the resilience of the industrial sector,” said David Levine, co-head of Americas acquisitions at Blackstone Real Estate. He cited two powerful tailwinds: low vacancy rates and an 80% drop in new construction starts since the 2022 peak, creating a supply squeeze that gives existing properties an edge.
