Blackstone Seal Deals Private Property for $ 18.7 Billion

Read Time:1 Minute, 33 Second

Blackstone received the largest private real estate deal in history, with the alternative investment manager agreeing to buy the Private Property GLP US warehouse portfolio based in Singapore for $ 18.7 billion, including debt.

One person familiar with the deal said the deal, which was announced on Sunday, followed a protracted bidding war against Prologis.

Blackstone

Once the transaction is complete, Blackstone will add approximately 179 million square feet of urban logistics assets, which is twice Private Property the current US manufacturing footprint. GLP, controlled by a consortium of Chinese investors, has discovered its American entity, according to people familiar Private Property with the issue. “The initial GLP strategy was to follow the IPO,” one person said. “However, it soon became clear that the deal with Blackstone would provide GLP investors with the best value.” At the global level, the American Group has received 930 square meters of logistics since 2010.

Ken Kaplan, Global Co-Chairman of Blackstone Properties, said, “Logistics is our biggest investment issue in today’s world and we have to take advantage of our existing portfolio to meet the growing demand of e-commerce it soon became clear that the deal with Blackstone would provide GLP to people familiar Private Property with the issue. Private Property investors with the best value. At the end of last year, the net loan of GLP was a refinery on the basis of EBITDA and foresight. “We are looking for nine times to relieve it soon became clear that the deal with Blackstone would provide GLP investors with the best value the company over time.” Look forward. ‘
Referring to the removal to people familiar with Private Property with the issue. of GLP from the Singapore Stock Exchange in January 2018, Ms. Lau said, “After the privatization, the company has seen an increase in usage.”

Like our Facebook page: – Newsinheadlines