Blackstone Invests in Tritax Big Box
Blackstone has acquired a £1bn logistics portfolio from Tritax Big Box (BBOX), gaining a 9% stake in the UK real estate investment trust (Reit).
The deal includes a 13.5% premium on newly issued shares valued at 161p per share, totaling £375mn, with the remaining £632mn paid in cash.
- 60% of the portfolio consists of urban logistics assets
- 40% consists of larger 'big box' warehouses in south-east England and the Midlands
The shorter-dated leases on the last-mile properties will allow for quick earnings boost through rent increases.
Blackstone will have a lock-up arrangement on the new shares until the end of 2026.
Author's summary: Blackstone invests in Tritax Big Box with a £1bn portfolio deal.
More News
- Newcastle 2-1 Burnley: What Parker said
- Marvin Vettori “The Italian Dream”
- Marvin Vettori's Comeback: Aiming to End His Three-Fight Skid at UFC 323
- Durham Council Delays Major Development at Former Police Headquarters
- Time to talk about Bruno! Brunno Ferreira defeats Marvin Vettori by Unanimous Decision
- Awareness walk held to commemorate INT'L Anti-Corruption Day
- View from the Opposition: Scott Parker on the challenge Palace pose
- Scott Parker says there is a real calmness at Burnley
- Durham Osteopathy Receives 2025 Consumer Choice Award
- North Little Rock maritime museum to commemorate anniversary of Pearl Harbor attack