The private equity firm’s offer of £0.115 per share surpassed the required threshold, with 16.4% of shareholders accepting it, bringing total acceptances—including commitments—to 51.6%, according to an official announcement.
This offer concludes a tense and protracted negotiation “thriller” between the parties that began in March.
The American investment group is significantly increasing its exposure to the UK logistics sector, with Warehouse REIT becoming the third publicly listed warehouse and logistics owner to be taken private since 2021. The sector has demonstrated remarkable resilience, driven by robust demand from retailers aiming to adapt to the rapid growth of e-commerce, even amid broader challenges facing the commercial real estate market.
Listed since 2017, Warehouse REIT has consistently traded below its net asset value and struggled to achieve the scale demanded by institutional investors. The deal followed a competitive bidding war with Tritax Big Box REIT, which made a £485 million counteroffer before Blackstone raised its bid to secure the board’s endorsement.
