Welcome to DU!
The truly grassroots left-of-center political community where regular people, not algorithms, drive the discussions and set the standards.
Join the community:
Create a free account
Support DU (and get rid of ads!):
Become a Star Member
Latest Breaking News
General Discussion
The DU Lounge
All Forums
Issue Forums
Culture Forums
Alliance Forums
Region Forums
Support Forums
Help & Search
Blackstone to buy warehouse network in record $18.7 billion deal
https://www.marketwatch.com/story/blackstone-to-buy-warehouse-network-in-record-187-billion-deal-2019-06-02?mod=newsviewer_clickBlackstone to buy warehouse network in record $18.7 billion deal
Published: June 2, 2019 8:29 p.m. ET
Blackstone Group LP is buying a network of U.S. industrial warehouses from Singapore-based GLP for $18.7 billion, including debt, in the largest private real-estate transaction ever.
The deal, culminating an auction, could be announced as soon as Sunday, people familiar with the matter said. Blackstone BX, -3.57% outbid real-estate company Prologis Inc. PLD, +0.48% for the roughly 180-million-square-foot portfolio, the people said.
The deal price includes about $8 billion of debt, one of the people said, which Blackstone plans to refinance.
(snip)
