Blackstone Real Estate Income Trust Completes Acquisition of $3.2 Billion Portfolio
October 21, 2021 | James Sprow | Blue Vault
Blackstone Real Estate Income Trust (“BREIT”) completed the acquisition of WPT Industrial Real Estate Investment Trust, a Toronto-based real estate investment platform that acquires, develops and operates distribution and logistics properties. The all-cash deal is valued at $3.2 billion, with the assumption of debt. As a result of the closing, WPT will delist from the Toronto Stock Exchange.
WPT’s unitholders received $22.00 per outstanding unit. Former members of the WPT management team will continue to do business under the name WPT Capital Advisors, as an independently owned and operated company.
Blackstone Real Estate Income Trust, Inc. is a perpetual-life, institutional quality real estate investment platform that brings private real estate to income-focused investors. BREIT invests primarily in stabilized, income-generating U.S. commercial real estate across key property types including, multifamily, industrial, hotel, retail and office. As of August 31, 2021, BREIT had a total asset value of $63.2 billion and a portfolio of 1,563 properties that were 95% occupied.
Source: GlobeNewswireGo Back
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