HONG KONG, January 20, 2021 – Blackstone (NYSE: BX) today announced that Blackstone Real Estate’s opportunistic funds have completed the previously announced acquisition of a majority stake in the Greater Bay Area’s largest urban logistics park for US$1.1 billion from R&F Group. Blackstone will have a 70% stake while R&F Properties Co., Ltd., a subsidiary of R&F Group, will retain a 30% stake. The transaction significantly expands Blackstone’s China logistics portfolio by approximately one-third to 53 million square feet across 23 Chinese cities.

Cliff Chen, a Blackstone Real Estate Managing Director based in Shanghai, said: “We are thrilled to continue our strategy of acquiring high quality logistics assets in China’s key distribution hubs and cater to ongoing tenant demand, driven by e-commerce tailwinds and emerging opportunities in the Greater Bay Area. This area, which connects 11 major cities including Shenzhen, Macau, and Hong Kong, is one of China’s biggest logistics markets and a rapidly developing trade, finance, and technology and innovation hub. We look forward to further developing the park by constructing additional cold storage facilities tailored for food and pharmaceutical industries as well as institutional-quality warehouses.”

Tenants of the logistics park include some of China’s most reputable corporations in various sectors such as third-party logistics (SF Express, YTO Express), e-commerce (Tmall, JD.com), pharmaceuticals (Sinopharm, CR Pharma), and telecommunications (China Mobile, China Telecom). The logistics park is located 15 kilometers from Guangzhou International Airport, a key transportation hub within the Greater Bay Area.

About Blackstone Real Estate
Blackstone is a global leader in real estate investing. Blackstone’s real estate business was founded in 1991 and has $174 billion of investor capital under management. Blackstone is one of the largest property owners in the world, owning and operating assets across every major geography and sector, including logistics, multifamily and single-family housing, office, hospitality and retail. Our opportunistic funds seek to acquire undermanaged, well-located assets across the world. Blackstone’s Core+ strategy invests in substantially stabilized real estate globally through regional open-ended funds focused on high-quality assets and Blackstone Real Estate Income Trust, Inc. (BREIT), a non-listed REIT that invests in U.S. income-generating assets. Blackstone Real Estate also operates one of the leading global real estate debt businesses, providing comprehensive financing solutions across the capital structure and risk spectrum, including management of Blackstone Mortgage Trust (NYSE: BXMT).

Media Contact:
Ellen Bogard
Ellen.Bogard@Blackstone.com
Tel: +852 3651 7737

NEW YORK & IRVINE, Ca. – January 22, 2021 – Blackstone Real Estate Income Trust, Inc. (“BREIT”) and LBA Logistics (“LBA”) today announced the recapitalization of two industrial portfolios owned by LBA comprising $1.6 billion of gross value. BREIT acquired an approximately 60% combined interest across both portfolios, and LBA’s investment fund and its investors retained the balance.

The portfolios comprise 71 high quality assets totaling 9.5 million square feet and are approximately 95% occupied. The assets are located predominantly in last mile locations in West Coast markets with the vast majority in California and Seattle, which are two of the best performing industrial markets in the country.

Brian Kim, Head of Acquisitions & Capital Markets for BREIT, said, “This transaction represents a compelling opportunity to acquire high-quality last mile industrial assets on behalf of our BREIT investors. Logistics is one of our highest conviction investment themes globally, and this acquisition illustrates BREIT’s continued momentum executing on exciting opportunities with significant growth potential. LBA Logistics is a best-in-class operator in the logistics sector, and we look forward to expanding our partnership with them.”

Phil Belling, LBA’s Managing Partner, added, “These assets are benefitting from the strong fundamentals in the industrial sector, which we believe will continue to be attractive over the long-term. We are excited to grow our partnership with Blackstone and look forward to continuing to create value for our investors in the logistics space.”

Upon closing this transaction, more than 90% of BREIT’s real estate investments will be in multifamily, industrial, and net leased assets, with industrial representing more than 35% of BREIT’s portfolio.

Eastdil Secured served as an advisor to LBA Logistics.

Blackstone Real Estate Income Trust
Blackstone Real Estate Income Trust, Inc. (BREIT) is a perpetual-life, institutional quality real estate investment platform that brings private real estate to income focused investors. BREIT invests in stabilized, income-generating U.S. commercial real estate across key property types and to a lesser extent in real estate debt investments. BREIT is externally managed by a subsidiary of Blackstone (NYSE: BX), a global leader in real estate investing. Blackstone’s real estate business was founded in 1991 and has approximately $174 billion in investor capital under management. Further information is available at www.breit.com.

About LBA Logistics
LBA Logistics (LBA) is a full-service real estate investment and management company with a diverse portfolio of industrial properties in major markets throughout the United States. LBA Logistics’ portfolio currently totals over 60 million square feet and consists of state-of-the-art, high-bay distribution space, light manufacturing and multi-tenant business parks. LBA owns assets in major port and airport adjacent locations including South and Northern California, Seattle, Dallas, Chicago, Atlanta, New York/New Jersey, and Florida as well as regional inland hubs and infill last-mile delivery locations. In addition, LBA Realty owns and operates a portfolio of office and mixed-use properties throughout the Western United States. www.LBALogistics.com.

Forward-Looking Statements
Certain information contained in this communication constitutes “forward-looking statements” within the meaning of the federal securities laws and the Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by the use of forward looking terminology, such as “outlook,” “indicator,” “believes,” “expects,” “potential,” “continues,” “may,” “will,” “should,” “seeks,” “approximately,” “predicts,” “intends,” “plans,” “estimates,” “anticipates”, “confident,” “conviction,” “identified” or the negative versions of these words or other comparable words thereof. These may include financial projections and estimates and their underlying assumptions, statements about plans, objectives and expectations with respect to future operations, statements regarding future performance and statements regarding identified but not yet closed acquisitions. Such forward-looking statements are inherently uncertain and there are or may be important factors that could cause actual outcomes or results to differ materially from those indicated in such statements. BREIT believes these factors also include but are not limited to those described under the section entitled “Risk Factors” in its prospectus, and any such updated factors included in its periodic filings with the Securities and Exchange Commission (the “SEC”), which are accessible on the SEC’s website at www.sec.gov. These factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements that are included in this document (or BREIT’s prospectus and other filings). Except as otherwise required by federal securities laws, BREIT undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future developments or otherwise.

Contact

Blackstone
Ilana Mouritzen
Ilana.Mouritzen@Blackstone.com
Tel: (212) 583-5776

21 January 2021, Hong Kong – Standard Chartered Bank (Hong Kong) Limited (“SCBHK”) and UOB have teamed up to provide a HK$5.29 billion green loan to a Gaw Capital Partners-led consortium to support its acquisition of 1111 King’s Road (previously named as Cityplaza One) in Hong Kong.

1111 King’s Road currently holds a Platinum Green Building Certification under the BEAM Plus[1] assessment scheme which is recognised and accredited by the Hong Kong Green Building Council. The platinum certification is the highest possible rating based on a basket of criteria[2] including water efficiency and waste management. It recognises buildings with sustainability incorporated into their design and operation, and which contribute positively to Hong Kong’s emission intensity reduction goals.

SCBHK and UOB acted as joint mandated lead arrangers and joint bookrunners for the green loan facility to the Gaw Capital Partners-led consortium. The loan supports Gaw Capital’s continued efforts in implementing its sustainable strategy in line with the United Nations’ Sustainability Development Goals.

Ms Helen Hui, Co-Head, Client Coverage, Corporate, Commercial and Institutional Banking, Hong Kong, Standard Chartered, said, “Standard Chartered is fully committed to promoting sustainable finance and embedding sustainability in our business operations. We are pleased to provide this green loan to the Gaw Capital Partners-led consortium for the purchase of 1111 King’s Road and installation of more green facilities in this Grade-A office tower. We are keen to do more and seek opportunities to work with our clients in developing Hong Kong into a hub for green finance.”

Mrs Christine Ip, CEO – Greater China, UOB, said, “At UOB, financing is one way we partner our clients to promote sustainable development. Our support to the consortium led by Gaw Capital Partners demonstrates our commitment to working with our clients to help drive their sustainability efforts as we continue to forge a sustainable future with our stakeholders.”

Ms Christina Gaw, Managing Principal & Head of Capital Markets of Gaw Capital Partners, said, “Gaw Capital Partners has continued to integrate ESG considerations into our business since 2014. With our latest purchase in Hong Kong, we are committed to maintaining 1111 King’s Road, Hong Kong under Platinum BEAM Plus accreditation, which means that the building will reduce the environmental impact in terms of different aspects, including operation management, materials and waste aspect, energy use, water use and indoor environment quality. This green loan reflects our commitment in finding ways to finance and operate a more sustainable business.”

[1] BEAM Plus is a leading initiative in Hong Kong offering independent assessments of buildings’ sustainability performance.
[2] For details, please visit HKGBC’s website: https://www.hkgbc.org.hk/eng/beam-plus/beam-plus-references/manuals-assessment/manuals-assessment.jsp

LONDON – January 15, 2021 – H.I.G. Capital, LLC (“H.I.G.”), a leading global alternative investment firm with $43 billion of equity capital under management, announced today that one of its affiliates has invested in Madrid Content City, an approximately 140,000 square meter hub with state of the art audio-visual facilities, including production studios, production & post-production technical facilities, and a university focused on media studies.

H.I.G. continues to add to its sizeable portfolio of real estate assets across Europe, consisting of both equity as well as debt investments, with a particular focus on its target market of value-added small and midcap opportunities.

Riccardo Dallolio, Managing Director and Head of H.I.G. Europe Realty Partners, commented: “Madrid Content City will benefit from strong secular tailwinds underpinned by the boom in content production. The state-of-the-art studios and related facilities, the exceptional multinational tenant line-up with long term leases, and its critical mass will make it a leading content production hub in continental Europe”.

Esteban Caja Samboal, Principal at H.I.G. Europe Realty Partners in Madrid, added: “This transaction further demonstrates our ability to leverage our strong local network, execution capabilities and invest in an innovative real estate asset class leveraging on H.I.G.’s real estate as well as TMT expertise”.

About H.I.G. Capital
H.I.G. is a leading global private equity and alternative assets investment firm with $43 billion of equity capital under management.* Based in Miami, and with offices in New York, Boston, Chicago, Dallas, Los Angeles, San Francisco, and Atlanta in the U.S., as well as international affiliate offices in London, Hamburg, Madrid, Milan, Paris, Rio de Janeiro, São Paulo and Bogotá, H.I.G. specializes in providing both debt and equity capital to small and mid-sized companies, utilizing a flexible and operationally focused/value-added approach:

1. H.I.G.’s equity funds invest in management buyouts, recapitalizations and corporate carve-outs of both profitable as well as underperforming manufacturing and service businesses.
2. H.I.G.’s debt funds invest in senior, unitranche and junior debt financing to companies across the size spectrum, both on a primary (direct origination) basis, as well as in the secondary markets. H.I.G. is also a leading CLO manager, through its WhiteHorse family of vehicles, and manages a publicly traded BDC, WhiteHorse Finance.
3. H.I.G.’s real estate funds invest in value-added properties, which can benefit from improved asset management practices.

Since its founding in 1993, H.I.G. has invested in and managed more than 300 companies worldwide. The firm’s current portfolio includes more than 100 companies with combined sales in excess of $30 billion. For more information, please refer to the H.I.G. website at www.higcapital.com.

* Based on total capital commitments managed by H.I.G. Capital and affiliates.