Tritax Big Box Acquires £1.4bn Logistics Portfolio from Blackstone
Tritax Big Box has agreed to purchase a £1.4bn logistics portfolio from Blackstone, comprising 32 urban logistics and 5 big box assets.
The acquisition is expected to be completed on or around October 22, subject to certain conditions being met.
“Aligned with our strategic objectives, this exceptional portfolio offers strong rental reversion and numerous asset management opportunities. It also significantly broadens our client proposition across key urban logistics markets and reinforces our leading position in mission critical big boxes; in combination growing our GAV to over £7.9bn.” - Colin Godfrey, BBOX CEO
The deal is expected to deliver immediate financial benefits, including enhanced returns, and will result in Blackstone becoming an 8.6% shareholder in the real estate investment trust.
Author's summary: Tritax Big Box buys £1.4bn logistics portfolio.
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