Industrial-Space Showdown


Two real estate powerhouses are angling for control of a massive industrial portfolio hoping to capitalize on an expected economic recovery.

Blackstone Group for more than two years has been collecting pieces of junior debt on the 23 million square-foot portfolio, known as CalWest, aiming to take over after an anticipated June default.

Meanwhile, a Morgan Stanley property fund which holds a piece of junior debt, also is jockeying for control, according to people familiar with the matter. The CalWest portfolio has 95 properties, which include warehouses, distribution centers and other industrial buildings in California, Arizona, Texas and other states.

For complete story, see

This entry was posted in #cre, Commercial News, Phoenix Real Estate, Real Estate and tagged , , , , , , , , . Bookmark the permalink.

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s