Blackstone to Buy UK Landlord in £700 Million Take-Private Deal

Blackstone Group Inc. headquarters in New York..
Photographer: Mark Abramson/Bloomberg

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By Jack Sidders

April 3, 2023 at 6:53 AM UTC

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Blackstone Inc. agreed to purchase UK landlord Industrials REIT Ltd., the private equity giant’s latest bet on urban warehouses in Europe.

New York-based Blackstone offered to pay 168 pence a share in cash, according to a statement Monday, giving the London firm an enterprise value of about £700 million ($860 million).