Blackstone and GLP strike $18.7bn logistics deal

Blackstone has agreed to buy assets from three of GLP’s US funds for $18.7bn (£14.8bn), which would be the largest ever private real estate deal globally. The transaction totals 179m sq ft of urban, infill logistics assets, nearly doubling the size of Blackstone’s existing US industrial footprint. Blackstone Real Estate’s global opportunistic BREP strategy will acquire 115m sq ft for $13.4bn and its income-oriented non-listed REIT, Blackstone Real Estate Income Trust, will acquire 64m sq ft for $5.3bn Ken Caplan, global co-head of Blackstone Real Estate, said: “Logistics is our highest conviction global investment theme today, and we look forward