Blackstone(US:BX) 智通财经网·2025-10-13 09:19Group 1 - Blackstone has agreed to sell a portfolio of UK warehouse assets valued at £1 billion (approximately $1.3 billion) to Tritax Big Box REIT, which will result in Blackstone acquiring a minority stake in the owner [1] - Tritax will pay £632 million in cash, funded by a £650 million loan, and issue £375 million worth of new shares to Blackstone, giving Blackstone approximately 9% equity in Tritax [1] - The share issuance price of 161 pence represents a 13.5% premium over Tritax's closing price last Friday, but is below the reported EPRA net asset value of 188.17 pence per share as of June [1] Group 2 - The UK REIT market is experiencing low trading activity, with share prices consistently below reported asset values, providing Blackstone with stable transaction opportunities [2] - Blackstone's European Chairman, James Separa, indicated confidence in Tritax's long-term strategy and prospects by opting to hold equity in the company [2] - Tritax's loan-to-value ratio will increase from 31% to 35% as a result of this transaction, and the company plans to sell approximately £300 million in assets over the next 18 months to manage this ratio [2]