Crow Holdings Sells $718M Texas Industrial Portfolio to Blackstone, Retains 5% Stake
Dallas-based Crow Holdings offloads 95% of a 6M-square-foot portfolio in Dallas and Houston to Blackstone.
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Dallas, TX — Crow Holdings, a Dallas-based real estate giant, announced on April 10, 2025, the sale of 95% of its 25-building industrial portfolio, spanning 6 million square feet in Dallas and Houston, to Blackstone for $718 million. Crow Holdings, managing $33 billion in assets across 18 U.S. offices, will retain a 5% stake in the portfolio, located in two of the nation’s top logistics markets.
The Details:
Portfolio Scale: The 25 Class A buildings total 6 million square feet, primarily in high-barrier Dallas and Houston submarkets.
Deal Structure: Blackstone’s Core+ funds acquired the 95% stake, with Crow Holdings keeping 5% ownership.
Market Strength: Dallas-Fort Worth ranks as the top U.S. industrial market for supply and demand, per Cushman & Wakefield.
Closing Timeline: The transaction is expected to close in Q2 2025.
Why It Matters:
This deal underscores Texas’s dominance in logistics, with Crow Holdings and Blackstone betting big on the region’s industrial growth.
The Catch:
Market volatility could impact logistics demand—watch for economic shifts.
Bottom Line:
Crow Holdings’ $718M sale to Blackstone cements Dallas and Houston as industrial powerhouses.