Blackstone has entered into an agreement to acquire British commercial property company Industrials REIT for £700M (~$869M).

 

Blackstone has entered into an agreement to acquire British commercial property company Industrials REIT for £700M (~$869M).  Through the all-cash offer, Industrial REIT will receive 168 pence per share.  The London-based REIT invests in multi-let industrial properties and has a 7.12 million sq.ft portfolio of 104 assets.  Industrials REIT plans to complete the deal, which includes around £200M in debt and is subject to board approval, as soon as possible.  Blackstone was advised by investment bankers at Rothschild, while Eastdil Secured advised Industrials REIT.  Previously, Blackstone struck take-private deals with U.K.-listed St Modwen for £1.2B and Hansteen for £500M.