Blackstone Group LP is buying a network of U.S. industrial warehouses from Singapore-based GLP for $18.7 billion, in the largest private real-estate transaction ever and a big bet on the continued explosion of e-commerce. The companies announced the deal Sunday, following an earlier Wall Street Journal report. Blackstone outbid real-estate company Prologis Inc. for the roughly 180-million-square-foot portfolio, according to people familiar with the matter.

Source: Wall Street Journal June 02, 2019 23:48 UTC