Blackstone Acquires Stake in Tritax Big Box
Blackstone is selling a £1bn UK logistics portfolio to Tritax Big Box REIT (BBOX), resulting in a 9% stake in the company.
The acquisition will be funded via a new £650m debt facility and the issue of £375m in new shares at 161p per share, a 13.5% premium to BBOX's last closing price.
- The portfolio spans 6.5m sqft, 95% occupied, across the South East and the Midlands.
- The deal is expected to increase BBOX's gross asset value (GAV) to £7.86bn.
No direct quote available in the text.
Author's summary: Blackstone gains 9% stake in Tritax Big Box.
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