Blackstone has announced plans to merge two of its industrial and logistics businesses to create one of the largest owners of logistics properties in the UK.
St. Modwen Logistics and Industrials REIT will create a new group named Indurent, which comprises 26m sq ft and took 27 individual transactions to build.
More than 200 assets as well as properties acquired through 25 other deals will make up the group.
Both St. Modwen Logistics and Industrials REIT were delisted from the London Stock Exchange after Blackstone acquired the firms in 2021 and 2023 respectively.
James Seppala, head of European real estate at Blackstone, said: “UK logistics is a high conviction theme for Blackstone given our portfolio’s exceptionally strong performance and favourable long-term fundamentals in the sector.
“As a pure-play UK logistics company with an exceptional team, Indurent will enable us to continue to capitalise on opportunities in the sector and create value for our investors.”
Blackstone advises funds that own Clarion Events – the organiser of Multimodal
