Wentworth Capital, a real estate private equity firm, completed the acquisition of a Logistics Portfolio from GPT, a Real Estate Investment Trust, for $140m. The deal shows that industrial portfolio trades are still on the agenda despite quieter times in capital markets. GPT has been expanding in logistics. Last year, it said its joint venture with Canada’s Quadreal Property had expanded to $2bn. It has also built up substantial holdings and has a near $5bn industrial empire. A deeper shift into logistics has been a hallmark of departing GPT chief executive Bob Johnston’s period at the helm of the company. But it has been selling off smaller assets, and Wentworth has been on the expansion trail, becoming one of the key players in last-mile logistics since it was set up in 2019.