Israel-based investor snaps up seven D-FW buildings
An Israel-founded global property investment manager has snapped up seven North Texas industrial properties.
The properties were acquired from Blackstone Real Estate Income Trust. Blackstone bought the D-FW buildings asTerms of the sale to Faropoint were not disclosed. The properties are fully leased. “The Dallas-Fort Worth portfolio represents a milestone acquisition for Faropoint’s Texas region,” Jacob Rich, Faropoint senior vice president, said in a statement. “The market fundamentals of strong demand and limited supply further emphasizes our commitment to identifying value in high quality infill industrial real estate, despite cyclical challenges.”
Commercial property firm Cushman & Wakefield brokered the sale with Jim Carpenter, Jud Clements, Robby Rieke, Taylor Starnes, Madeleine Supplee and Trevor Berry working on the transaction.
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