Blackstone Real Estate Income Trust, a publicly registered non-traded REIT sponsored by private equity giant The Blackstone Group (NYSE: BX), has completed its acquisition of WPT Industrial Real Estate Investment Trust (TSX: WIR.U) in an all-cash transaction valued at $3.2 billion, including the assumption of debt.
WPT unitholders received $22.00 per unit. The units were delisted from the Toronto Stock Exchange yesterday, and 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.
In other company news, Blackstone REIT recently updated the monthly net asset values for its classes of common stock.
Blackstone Real Estate Income Trust’s initial offering launched in August 2016 and has raised $35.6 billion in three public offerings as of August 2021. The REIT has raised $10.9 billion in the current offering, as of mid-October. As of September 30, 2021, the REIT’s aggregate NAV was $41.9 billion.
As of September 30. 2021, the REIT’s investments in real estate totaled $55.8 billion, investments in real estate debt totaled $6.9 billion, and investments in unconsolidated entities totaled $4.5 billion.