Wells Fargo Provides $514M in Funding to Affiliates of Blackstone Real Estate Advisors

Wells Fargo & Company

has announced the funding of a $514 million syndicated five-year senior secured term loan to affiliates of Blackstone Real Estate Advisors for the acquisition of a geographically diversified portfolio of 182 properties in 28 distinct markets. The transaction was coordinated amongst the lending teams within the Northeast Division of the Wells Fargo Real Estate Banking Group. The portfolio was acquired from ProLogis

and is comprised of approximately 23.2 million square feet located across 19 states and 28 markets. The 182 industrial assets, primarily used for the warehousing and transportation trades, are leased to over 500 tenants.