Real Estate
Blackstone, Sixth Street’s £470 Million Warehouse Bid Rejected
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Funds managed by Blackstone Inc. and Sixth Street Partners made a £470 million ($598 million) bid for Warehouse REIT Plc that was subsequently rejected by the UK industrial landlord.
The all-cash offer is the fourth proposal made by the venture to Warehouse REIT’s board, according to a statement Monday. Blackstone and Sixth Street made their latest approach on Feb. 23, offering 110.5 pence a share, it said. And just a few days later, on Feb. 28, Warehouse REIT’s board rejected the bid.