One of many world’s largest actual property traders 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 struggle for one more industrial property group.
Property business 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 belongings within the type of fairness in Tritax Huge Field.
Relying on the portion of the deal paid for in inventory, Blackstone might emerge as considered one of Tritax Huge Field’s largest shareholders.
An announcement about an settlement between the 2 corporations might come inside days, the folks mentioned.
A transaction would come lower than two months after Tritax Huge Field bowed out of the bidding for Warehouse Reit after Blackstone tabled a proposal price near £500m for the corporate.
Talks between Blackstone and Tritax Huge Field about an asset portfolio deal are mentioned to have been initiated quickly after the decision of the Warehouse Reit battle.
Tritax Huge Field is among the many corporations which have emerged to benefit from hovering demand for industrial warehouse and logistics belongings.
Its websites embrace 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 lately dedicated to investing £100bn within the UK within the coming years, and Tritax Huge Field each declined to touch upon Sunday.
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