Blackstone Completes the Acquisition of U.S. Logistics Assets from GLP

Blackstone Completes the Acquisition of U.S. Logistics Assets from GLP
27/09/2019 , by , in INTERNATIONAL

Blackstone announced that it has closed on its previously announced acquisition of U.S. logistics assets from three of GLP’s U.S. funds for a purchase price of $18.7 billion.

As previously announced, Blackstone Real Estate’s global opportunistic BREP strategy is acquiring 115 million square feet for $13.4 billion and its income-oriented non-listed REIT, Blackstone Real Estate Income Trust (BREIT), is acquiring 64 million square feet for $5.3 billion.

Blackstone and GLP announced the transaction on June 2, 2019.

Citibank, Deutsche Bank Securities Inc., BofA Merrill Lynch, J.P. Morgan, Goldman Sachs & Co. LLC, Barclays, Wells Fargo, Nuveen and Prudential are providing financing for the acquisition. Simpson Thacher & Bartlett served as legal counsel to Blackstone.

BofA Merrill Lynch, Barclays, Deutsche Bank Securities Inc., J.P. Morgan and Morgan Stanley & Co. LLC served as financial advisors to Blackstone. Citigroup Global Markets Inc., Eastdil Secured LLC and Goldman Sachs & Co. LLC served as Blackstone’s financing advisor.

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