Blackstone completes acquisition of WPT Industrial REIT for US$3.2bn

Blackstone completes acquisition of WPT Industrial REIT for US$3.2bn

Blackstone Real Estate Income Trust, Inc. has completed its acquisition of WPT Industrial Real Estate Investment Trust in a series of transactions that resulted in unitholders receiving US$22.00 per outstanding unit of WPT in an all-cash transaction valued at US$3.2 billion, including the assumption of debt.

The transaction was announced on August 9, 2021. 

”The units will be delisted from the Toronto Stock Exchange at the close of business today and WPT will apply to cease to be a reporting issuer under applicable Canadian securities law,” said Blackstone in a press release.

Following closing of the transaction, former members of the WPT management team will continue to do business under the name WPT Capital Advisors, as an independently owned and operated company.