The private equity company’s deal has almost doubled the size of its US industrial investments overnight GLPBlackstone has sealed the world’s biggest private property deal after agreeing to buy nearly 180 million sq ft of industrial warehouse space for $18.7 billion. In a move that amounts to a huge bet on the future of American logistics and the relentless rise of Amazon, Blackstone said that the agreement had almost doubled the size of its US industrial investments overnight. Investors worldwide are ploughing billions of pounds into buying warehouse space and other logistics assets as they try to capitalise on the rise of online commerce and the subsequent need to store and swiftly transport ordered goods. Ken Caplan, 45, global co-head of Blackstone Real Estate, said: “Logistics is our highest-conviction global investment theme today and we look forward to building on our…

Source: The Times June 03, 2019 23:02 UTC