Blackstone to create vast warehouse business
The London stock market might soon be welcoming another heavyweight warehouse landlord, with Blackstone planning to merge two of its logistics businesses.
The world’s largest private equity firm is to bring its Industrials Reit and St Modwen Logistics divisions under one roof and one management team.
The enlarged group, which will be called Indurent, will have more than 200 warehouses, or “sheds”, totalling 26 million sq ft of logistics space. Only Segro and Tritax Big Box boast larger portfolios.
The tie-up could lead to a future stock market float of Indurent, according to Bloomberg, which first reported the news. Other eventual exit options could include selling to a sovereign wealth fund or a pension fund, as Blackstone did with Logicor, another pan-European logistics company, which