The two firms bought 21 buildings totaling more than 2 million square feet.
DALLAS — This article was originally published by our content partners at the Dallas Business Journal. You can read the original article here.
Goldman Sachs Group Inc. has partnered with Dallas-based real estate firm Dalfen Industrial LLC to purchase nearly $300 million worth of warehouses from Blackstone Inc.
The warehouse portfolio spans 21 buildings in Dallas, Cincinnati, Las Vegas and Pennsylvania, according to Bloomberg. The buildings add up to nearly 2.1 million square feet and are almost completely leased, with 92% of the buildings leased to 68 tenants, including major names like Amazon and Red Bull.
New York-based Goldman (NYSE: GS) and Dalfen bought the portfolio for $293 million. The duo now owns a total of 94 logistics buildings together, totaling nearly 19 million square feet. The partnership dates back to mid-2020, when Dalfen and Goldman Sachs Merchant Banking Division acquired a 46-property last mile industrial portfolio of more than 6.3 million square feet.
Dalfen Industrial, led by CEO Sean Dalfen, owns more than 55 million square feet of industrial real estate nationwide. The company recently announced a goal to “significantly expand its presence” in Florida in 2025 after purchasing two warehouse properties in central Florida this month.
Dallas-Fort Worth was last year named the nation’s top warehouse hub by online real estate marketplace CommercialSearch because of three key metrics: most distribution space added in the past four years, largest inventory of distribution space and most airports. From 2019 to 2023, Dallas added roughly 110 million square feet of distribution and warehouse space.
