Pure Industrial Real Estate Trust has announced the closing of the previously announced plan of arrangement, pursuant to which an affiliate of Blackstone Property Partners, the Core+ real estate investment unit of Blackstone, and Ivanhoé Cambridge, a subsidiary of CDPQ, have acquired all of the issued and outstanding trust units of the Pure Industrial Real Estate Trust. Blackstone Property Partners and Ivanhoé Cambridge will own 62 percent and 38 percent of the Trust, respectively.
The C$2.48 billion ($2 billion) deal was announced in January.
