Blackstone Real Estate Income Trust (BREIT) will acquire all of the outstanding units of WPT Industrial Real Estate Investment Trust (WPT) in an all-cash transaction valued at $3.1 billion.
David Levine, senior managing director at Blackstone, said, “Logistics remains one of our highest conviction themes as the sector continues to benefit from strong tailwinds driven by ecommerce. 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.”