Major Industrial Deal: PCCP & Stonemont Acquire $1B+ Portfolio From Blackstone
A joint venture between PCCP and Stonemont Financial Group has officially finalized the acquisition of a massive, 5.9-million-square-foot industrial portfolio from seller Blackstone. The off-market transaction closed on July 29 for upwards of $1 billion with advisory services provided by Eastdil Secured. Financing for the purchase was arranged through debt from JP Morgan and Wells Fargo with Eastdil Secured advising on the debt execution, as well.
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