Jan
11
Blackstone to Buy Canada’s Pure Industrial REIT for $3B
ByBlackstone intends to make this investment through Blackstone Property Partners for its Core+ real estate investment unit. The all-cash transaction is expected to close in the second quarter.
Canadian-based Pure Industrial Real Estate Investment Trust has caught the eye of private equity giant Blackstone Group LP, which intends to add the REIT to its growing industrial holdings in a deal valued at C$3.8 billion.
“We are excited to be acquiring PIRET, one of the premier Canadian industrial REITs, as a continuation of our global strategy to acquire high-quality logistics assets in key urban markets. The management team has done an excellent job building the portfolio and we look forward to working together going forward,” Tyler Henritze, Head of North America Acquisitions for Blackstone Real Estate, said in a prepared statement…
