The Blackstone Group announced on Dec. 1 that funds affiliated with its Blackstone Real Estate Partners VI and VII agreed to sell IndCor Properties to affiliates of GIC, Singapore’s sovereign wealth fund, for $8.1 billion. IndCor, based in Chicago, owns and operates properties in 24 U.S. states...
Borja Sierra, head of capital markets with real estate services firm Savills Studley, says Blackstone did the right thing by creating the IndCor portfolio and offering it up to foreign buyers.
“They’re executing at a time when foreign capital for large deals in the United States is at a peak,” Sierra says. “We’re constantly receiving interest from Asian and European companies to deploy capital here. The learning curve has narrowed, and many of these firms are ripe to jump into the market...”U.S. Industrial Portfolios Attract Attention from Foreign Investors
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