Warehouse REIT Accepts Increased $666mln Offer from Blackstone

Deal News | Jul 10, 2025 | Zawya

Warehouse REIT Accepts Increased $666mln Offer from Blackstone

Blackstone has raised its offer to purchase Warehouse REIT, a British real estate investment trust, to 115 pence per share, which values the company at approximately 489 million pounds ($666 million). Under the revised terms, shareholders of Warehouse REIT will receive 113.4 pence per share in cash accompanied by a dividend of 1.6 pence per share. This offer represents an 8.3% premium over Warehouse REIT's closing price prior to Blackstone's initial bid. The revision was necessitated after Warehouse REIT spurned Blackstone's earlier proposal of 470 million pounds, opting instead for a higher bid of 485.2 million pounds from Tritax Big Box REIT. Currently, Tritax and Warehouse REIT have not provided a response to inquiries.

Sectors

  • Real Estate Investment Trusts (REITs)
  • Private Equity

Geography

  • United Kingdom – The operations of Warehouse REIT and the acquisition target by Blackstone are based in the UK.

Industry

  • Real Estate Investment Trusts (REITs) – The article involves Warehouse REIT, a company structured to deliver returns to investors through real estate investments.
  • Private Equity – Blackstone, a private equity firm, is involved in a transaction aimed at acquiring a public company.

Financials

  • 489 million pounds ($665.6 million) – Revised offer value of Blackstone's bid for Warehouse REIT.
  • 115 pence per share – Blackstone's revised per share offer for Warehouse REIT.
  • 1.6 pence per share – Dividend included in Blackstone's offer per share.
  • 8.3% – Premium of Blackstone's revised offer compared to Warehouse REIT's closing price prior to the original bid.
  • 470 million pounds – Blackstone's initial proposal rejected by Warehouse REIT.
  • 485.2 million pounds – Competing bid offered by Tritax Big Box REIT, preferred over Blackstone's original proposal.

Participants

NameRoleTypeDescription
BlackstoneBidding CompanyCompanyA global private equity firm making an acquisition offer for Warehouse REIT.
Warehouse REITTarget companyCompanyA British real estate investment trust that is the target of the acquisition offer.
Tritax Big Box REITBid CompetitorCompanyA competing bidder for Warehouse REIT that made a higher initial offer accepted by Warehouse REIT.