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Monday, 24 June 2019

Blackstone Real Estate Buys 90 Percent Stake in Virginia Data Center Portfolio

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Commercial Real Estate Direct Staff Report

Blackstone Real Estate Income Trust Inc. has acquired a 90 percent stake in seven data centers with 1.2 million square feet in Virginia in a deal that values the portfolio at $265 million.

The New York REIT, whose shares do not trade on any exchange, bought the stake from Corporate Office Properties Trust Inc., or COPT, a Columbia, Md., REIT, that retained the remaining stake. The properties, each leased to a single tenant, are in Ashburn and Manassas, Va.

Blackstone Real Estate was formed in 2016. It so far has raised $4.9 billion of equity through the sale of its common shares and invested that in 491 apartment, industrial, hotel and retail properties. It also has agreed to pay $5.3 billion for 316 industrial properties with 63.7 million sf from Global Logistics Properties.

COPT, meanwhile, owned 146 office properties with 15.2 million sf and 19 data centers with 3.1 million sf at the end of March. Most of its properties are leased to federal government branches and contractors in the national security, defense and information-technology sectors.

Comments? E-mail Tim Casey or call him at (267) 397-3347.



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Additional Info

  • Syndicate to Realpoint: No
  • States: Virginia
  • Sector: Other
  • Subject: Property Acquisitions (ACQ)
  • Company: Blackstone Real Estate Advisors
  • Private: No
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Data Digest

 

CMBS DELINQUENCY VOLUME

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CMBS SPECIAL SERVICING VOLUME

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Top Bookrunners Domestic, Private-Label CMBS - 2017
Investment Bank #Deals Vol$mln MktShr%
Goldman Sachs 17.59 11,819.34 13.68
JPMorgan Securities 14.52 10,968.11 12.70
Citigroup 12.04 10,012.71 11.59
Wells Fargo Securities 14.02 9,936.06 11.50
Deutsche Bank 12.55 9,879.74 11.44

 

RCA CPPI

 

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CMBS 2.0 Spreads

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Top CMBS Loan Contributors - 2017
Lender #Loans Vol$mln MktShr%
Goldman Sachs 146.89 11,719.34 13.63
JPMorgan Chase Bank 117.68 10,114.14 11.76
Deutsche Bank 198.48 9,689.97 11.27
Morgan Stanley 166.18 8,539.78 9.93
Citigroup 199.05 8,088.24 9.41

 

 

 

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