Blackstone has entered into an agreement to acquire assets from three of GLP’s U.S. funds for a purchase price of $18.7 billion.
This overall transaction totals 179 million square feet of urban, infill logistics assets, nearly doubling the size of Blackstone’s existing U.S. industrial footprint. Blackstone Real Estate’s global opportunistic BREP strategy will acquire 115 million square feet for $13.4 billion and its income-oriented non-listed REIT, Blackstone Real Estate Income Trust (BREIT), will acquire 64 million square feet for $5.3 billion.
Ken Caplan, global co-head of Blackstone Real Estate, commented, “Logistics is our highest convicti
