Wednesday, July 17, 2024

Blackstone swoops for £500mn UK commercial property company

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Blackstone has struck a deal value greater than £500mn to purchase a British industrial property firm, because the US non-public fairness group outlets for bargains within the UK actual property sector.

Blackstone has provided to pay shareholders in Industrials Reit a 42 per cent premium to Friday’s closing worth to take the corporate non-public. The UK firm’s board mentioned it might suggest Blackstone’s supply to accumulate the 7mn sq ft portfolio of UK logistics warehouses.

Shares in listed actual property corporations have slumped as rising rates of interest depress property values, creating alternatives for personal funds to snap up portfolios.

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