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Sign in Sign up for a FREE subscriptionBlackstone to acquire Industrial REIT
Industrials REIT has agreed to a possible takeover from Blackstone and made an intent to recommend the proposed offer to its shareholders.
The London-based REIT invests in U.K. multi-let industrial properties with a portfolio that includes 7 million square feet of U.K. industrial and warehouse space.
Blackstone and Industrials REIT are targeting the announcement of a firm intention to make an offer by April 14.
A sales price was not confirmed; however, it is estimated to be £498.7 million (€567 million/$614.7 million), reported multiple outlets. But Financial Times estimated it to be closer to £700 million (€797 million/$868 million).
