Blackstone to acquire Warehouse REIT for £730m.

Blackstone, a private equity firm, agreed to acquire Warehouse REIT, a real estate investment trust with a portfolio and investment strategy focusing on urban warehouses, for £730m. "As one of the largest investors in logistics, we have a high conviction in the demand drivers supporting this sector across the UK. We believe the strength of our UK platform, our management teams, their operational capabilities and our capital will help Warehouse capitalize on the opportunities ahead," James Seppala, Blackstone Head of Real Estate Europe. Blackstone has increased its offer to acquire Warehouse REIT, outbidding the proposal made by Tritax Big Box REIT. The alternative asset manager is now offering 113.4 pence per share in cash, valuing the UK property firm at £489m ($666m).