Terreno Realty Corporation completed the acquisition of an industrial portfolio from Blackstone Real Estate for $426.9m.

Terreno Realty Corporation, a publicly traded real estate investment trust that acquires, owns, and operates industrial real estate near major population centers and distribution hubs, completed the acquisition of an industrial portfolio from Blackstone Real Estate, a global real estate investment firm, for $426.9m. The acquisition strengthens Terreno Realty Corporation’s presence in key coastal US markets and expands its high-quality industrial portfolio, supporting its strategy to enhance long-term income stability and capital growth.