Blackstone acquires stake in $1.1b Guangzhou logistics park
Blackstone Group has plans to acquire a 70 percent share in Guangzhou International Airport R&F Integrated Logistics Park from Guangzhou R&F Properties, according to an announcement to the Hong Kong Stock Exchange.
The sales price was RMB 6.3 billion ($950 million). The asset totals 98 hectares (242 acres) and when completed will have a total of 1.2 million square meters (12.9 million square feet) of space, with some 889,820 square meters of leasable facilities already completed. An additional 14 hectares of land still remains to be developed.