Blackstone to acquire a 49% stake in Dexus Australia Logistics Trust from GIC.

Blackstone agreed to acquire a 49% stake in Dexus Australia Logistics Trust, an existing joint venture of 77 premium-grade logistics assets, from GIC. Financial terms were not disclosed. "We are pleased to both acquire a portfolio of best-in-class logistics assets in Australia and partner with Dexus. The transaction significantly increases our Asian Core+ Real Estate exposure to the logistics space and is consistent with our strategy of overweighting high conviction sectors and locations," Frank Cohen, Blackstone Global Head of Core+ Real Estate.