The Blackstone Group completed the acquisition of Hansteen Holdings, a UK-REIT group that invests in urban multi-let industrial property, for £500m ($660m). The consideration represents a premium of approximately 10.3% to the closing price per Hansteen share on December 17, 2019. "This transaction is a compelling opportunity to expand our pan-European last-mile logistics real estate company, Mileway, in the UK and it is testament to our long-term belief in investing in the country. We look forward to working with Hansteen's team to support the growing demand for last mile logistics real estate across the UK in the years to come," James Seppala, Blackstone Head of Real Estate Europe.