One of many world’s largest actual property buyers is in superior talks with a London-listed group a few £1bn logistics deal – weeks after the duo have been embroiled in a public bidding warfare for one more industrial property group.
Sky Information has learnt that Blackstone, the American non-public fairness behemoth, is nearing an settlement to promote roughly £1bn of logistics property to Tritax Large Field Reit, which has a market capitalisation of about £3.65bn.
Property trade sources mentioned this weekend that whereas key particulars have been but to be finalised, a deal might see Blackstone receiving a part of the consideration for the property within the type of fairness in Tritax Large Field.
Relying on the portion of the deal paid for in inventory, Blackstone might emerge as one in all Tritax Large Field’s largest shareholders.
An announcement about an settlement between the 2 firms might come inside days, the individuals mentioned.
A transaction would come lower than two months after Tritax Large Field bowed out of the bidding for Warehouse Reit after Blackstone tabled a proposal value near £500m for the corporate.
Talks between Blackstone and Tritax Large Field about an asset portfolio deal are mentioned to have been initiated quickly after the decision of the Warehouse Reit battle.
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Tritax Large Field is among the many firms which have emerged to benefit from hovering demand for industrial warehouse and logistics property.
Its websites embody a 2.3 million sq. foot facility on land beforehand occupied by the Littlebrook energy station in Kent, with a lot of that area now pre-let to Amazon and Ikea.
Blackstone, which not too long ago dedicated to investing £100bn within the UK within the coming years, and Tritax Large Field each declined to touch upon Sunday.
