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Blackstone Expands U.S. Logistics Portfolio with $3B Deal for WPT
Blackstone Real Estate Income Trust said Monday it would acquire all the outstanding units of Toronto-based WPT Industrial Real Estate Investment Trust for $3.1 billion. The all-cash acquisition includes the assumption of debt.
“Logistics remains one of our highest conviction themes as the sector continues to benefit from strong tailwinds driven by e-commerce,” said David Levine, senior managing director at Blackstone. “We look forward to expanding our logistics presence across key U.S. markets with the acquisition of this high-quality portfolio that WPT has built.”
WPT’s U.S. portfolio encompasses 110 properties spanning 37.5 million square feet across 20 states. The portfolio is currently 97.8% leased.
Pictured: WPT’s 1105 Northfield Dr. in Brownsburg, IN.
- ◦Sale/Acquisition
