Blackstone buys GLP’s US logistics assets in record $18.7b deal

Blackstone Group LP headquarters stands in New York, U.S., on Friday, April 14, 2017. Photograph: Victor J. Blue/Bloomberg

Global alternative assets giant Blackstone Group has agreed to acquire the US logistics assets of Singapore-based GLP for a record $18.7 billion, including debt, in what is perhaps the biggest private equity deal in the real estate sector.

For Blackstone, the deal forms part of its “highest conviction global investment theme” riding on growing e-commerce demand.

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