One of many world’s largest actual property buyers is in superior talks with a London-listed group a couple of £1bn logistics deal – weeks after the duo have been embroiled in a public bidding warfare 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 property within the type of fairness in Tritax Massive Field.
Relying on the portion of the deal paid for in inventory, Blackstone might emerge as one among Tritax Massive 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 Massive Field bowed out of the bidding for Warehouse Reit after Blackstone tabled a suggestion value near £500m for the corporate.
Talks between Blackstone and Tritax Massive Field about an asset portfolio deal are mentioned to have been initiated quickly after the decision of the Warehouse Reit battle.
Tritax Massive Field is among the many firms which have emerged to reap the benefits of 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 lately dedicated to investing £100bn within the UK within the coming years, and Tritax Massive Field each declined to touch upon Sunday.
