REAL ESTATE TECHNOLOGY
businesswire | January 22, 2021
Blackstone Real Estate Income Trust, Inc. ("BREIT") and LBA Logistics ("LBA") today declared the recapitalization of two mechanical portfolios possessed by LBA involving $1.6 billion of gross worth. BREIT gained a roughly 60% consolidated revenue across the two portfolios, and LBA's venture asset and its financial specialists held the equilibrium.
The portfolios involve 71 top notch resources adding up to 9.5 million square feet and are around 95% involved. The resources are found dominatingly in last mile areas in West Coast markets with by far most in California and Seattle, which are two of the best performing mechanical business sectors in the country.
After shutting this exchange, over 90% of BREIT's land speculations will be in multifamily, modern, and net rented resources, with mechanical speaking to over 35% of BREIT's portfolio.
Eastdil Secured filled in as a guide to LBA Logistics.
Blackstone Real Estate Income Trust
Blackstone Real Estate Income Trust, Inc. (BREIT) is an unending life, institutional quality land venture stage that carries private land to pay centered financial specialists. BREIT puts resources into settled, pay producing U.S. business land across key property types and less significantly in land obligation speculations. BREIT is remotely overseen by an auxiliary of Blackstone (NYSE: BX), a worldwide pioneer in land contributing. Blackstone's land business was established in 1991 and has around $174 billion in financial specialist capital under administration.
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.
Berkshire Hathaway HomeServices | August 24, 2021
Berkshire Hathaway HomeServices, a global residential real estate brokerage franchise network, is delighted to welcome Berkshire Hathaway HomeServices Brick & Mortar Real Estate to its global network. The addition marks the brand's continued growth in the state of Washington and the 11th company in the state.
“We are proud to have Berkshire Hathaway HomeServices Brick & Mortar Real Estate carry the brand into new markets in Washington.”
Owned and operated by Gina and Mike Styler, the firm is located in Ellensburg, Washington and brings 12 combined years of experience serving the Kittitas Valley and the surrounding regions. Gina Styler was named the #1 Lower County Real Estate Agent in 2021 and earned the title voted by the public of “Best Real Estate Agent of the County for 2020.”
“After years of building a successful real estate career, it was time to align with a global brand like Berkshire Hathaway HomeServices, to take the brokerage to the next level,” said Gina Styler, Owner of Berkshire Hathaway HomeServices Brick & Mortar Real Estate. “We look forward to building our legacy and elevating the real estate experience for our clients.”
By joining, Berkshire Hathaway HomeServices Brick & Mortar Real Estate agents gain access to Berkshire Hathaway HomeServices’ active referral and relocation networks, and its “FOREVER Cloud” technology suite, a powerful source for lead generation, marketing support, social media, video production/distribution and more. Berkshire Hathaway HomeServices has aligned with best-in-class technology platforms to deliver world-class support to its network members far into the future.
“Ellensburg is known for its thriving art and culture community, supported by downtown organizations and the local University,” said Gino Blefari, Chairman of Berkshire Hathaway HomeServices. “We are proud to have Berkshire Hathaway HomeServices Brick & Mortar Real Estate carry the brand into new markets in Washington.”
Berkshire Hathaway HomeServices Brick & Mortar Real Estate will also have full access to the recently unveiled, Real Estate I.Q. System. The System combines the Berkshire Hathaway HomeServices brand, marketing resources and technology with continuing education, training, mentoring, and consulting. The brand also provides global listing syndication, professional training and ongoing education and the exclusive Luxury Collection marketing program for premier listings. Its Prestige Magazine showcases network members’ premium listings with a strong lineup of feature stories covering topics that appeal to high-end real estate clients.
“As the most centrally located town in Washington state, Ellensburg offers the best of two worlds, small-town charm and a big-city feeling and we can’t wait to build our legacy here under the Berkshire Hathaway HomeServices brand,” said Mike Styler, Owner, Berkshire Hathaway HomeServices Brick & Mortar Real Estate. “We look forward to fulfilling our customer's needs in the residential, commercial, new construction and luxury real estate areas.”
About Berkshire Hathaway HomeServices Brick & Mortar Real Estate
Berkshire Hathaway HomeServices Brick & Mortar Real Estate is a real estate brokerage in the State of Washington. Offering high-end services and experience to clients through an intentional working environment. Bringing together a group of skilled, passionate, and supportive individuals who are empowered by the brokerage and deliver an exceptional level of service.
About Berkshire Hathaway HomeServices
Berkshire Hathaway HomeServices is a global residential real estate brokerage franchise network with more than 50,000 real estate professionals and nearly 1,500 offices throughout the U.S., Canada, Mexico, Europe, the Middle East and India. In 2020, the Berkshire Hathaway HomeServices global network represented more than $138 billion in real estate sales volume. The network, among the few organizations entrusted to use the world-renowned Berkshire Hathaway name, brings to the real estate market a definitive mark of trust, integrity, stability, and longevity.
REAL ESTATE INVESTMENT
Dalfen Industrial | January 12, 2022
Dalfen Industrial has acquired a 417,600 square foot industrial building in Lathrop, CA – a submarket within East Bay's Central Valley. The opportunity was sourced off-market and is 100% occupied with an additional 10.85 acres of prime developable land.
The property has a strategic last mile location with close proximity to I-5 as well as the Port of Stockton and the Union Pacific and BNSF Railroads. This location offers access to over 839,000 people within a 30-minute drive with a population that is growing at a rate 47% faster than the national average. Other companies in the area include Home Depot, Wayfair, Tesla, Amazon, DHL and Kraft.
Strong growth dynamics in this region have resulted in increasing industrial demand, making this a great addition to our west coast portfolio, The Central Valley is a major west coast distribution hub with same-day delivery capabilities to nearly 46 million people between San Francisco, Sacramento, Los Angeles, San Diego, and Las Vegas, and all the cities in between."
Rich Weiss, Market Officer for Dalfen.
This acquisition exemplifies our continued focus of adding strategically located west coast industrial assets to our portfolio in order to bolster our last mile fulfillment center footprint in the region markets."
Sean Dalfen, President and Chief Investment Officer at Dalfen Industrial.
About Dalfen Industrial
Dalfen Industrial is one of the nation's largest buyers of industrial real estate and is a leader in the last-mile property sector. Their investment focus is on strategically located urban infill warehouses and distribution buildings. Dalfen currently owns and operates millions of square feet of premier industrial properties throughout the United States.