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Blackstone to acquire US warehouse assets from GLP for $18.7 billion

GLP had scaled up its US business over the past four years to become the second-largest logistics player after Prologis Inc

Reuters  |  Singapore/Bengaluru 

Blackstone Group LP is buying U.S. industrial warehouse properties from Singapore-based logistics provider GLP for $18.7 billion, in what the companies billed as the largest private real estate transaction globally. The deal by the world's largest manager of alternative assets comes when investors are spending billions of dollars to snap up logistics assets as a surge in e-commerce activity spurs demand for delivery and warehouse services. Blackstone said the overall transaction totaled 179 million square feet of urban logistics assets, nearly doubling the size of its U.S. ...

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First Published: Tue, June 04 2019. 02:46 IST