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Goldman Sachs Alternatives and Dalfen Industrial are expanding their nearly five-year-old partnership. In an off-market transaction, the joint venture has acquired a 21-building, 2.1 million-square-foot last-mile logistics portfolio from Blackstone for $293 million.

The partnership first teamed up on industrial transactions in July 2020, with the purchase of 46 last-mile industrial facilities valued at nearly $500 million. With this latest acquisition, Dallas-based Dalfen and Goldman Sachs now own 94 buildings totaling 19 million square feet in major U.S. markets.