Commercial real estate services firm expands || Business Observer | Tampa Bay, Bradenton, Sarasota, Fort Myers, Naples

Commercial real estate services firm expands || Business Observer | Tampa Bay, Bradenton, Sarasota, Fort Myers, Naples

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Blackstone to Buy WPT Industrial for $3.1B

  Blackstone is digging deeper into the industrial asset class with a newly-announced agreement that its REIT will acquire WPT Industrial REIT of Toronto for $3.1 billion.  WPT acquires, develops, manages and owns distribution and logistics properties located in the US. Its portfolio includes 109 properties across 19 US states. Blackstone to Buy WPT Industrial for $3.1B | GlobeSt “Logistics remains one of our highest conviction themes as the sector continues to benefit from strong tailwinds driven by e-commerce,” said David Levine, senior managing director at Blackstone in prepared remarks. “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.” The transaction price of US$22.00 per unit represents a 17.1% premium to the closing price of the units on the Toronto stock exchange on August 6, 2021, and a 19.5% premium to WPT’s 30-day volume-weighted average unit price on the Toronto stoc...
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