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Blackstone closes $18.7B purchase of GLP US logistics assets

Blackstone Group Inc. completed its $18.7 billion acquisition of U.S. logistics assets from three of GLP Pte Ltd.'s U.S. funds.

The private equity giant said Blackstone Real Estate's global opportunistic BREP strategy is buying 115 million square feet for $13.4 billion, while Blackstone Real Estate Income Trust is purchasing 64 million square feet for $5.3 billion.

Citibank, Deutsche Bank Securities Inc., BofA Merrill Lynch, J.P. Morgan, Goldman Sachs & Co. LLC, Barclays, Wells Fargo, Nuveen and Prudential are providing funding for the acquisition.

Simpson Thacher & Bartlett offered legal counsel to Blackstone.

BofA Merrill Lynch, Barclays, Deutsche Bank Securities Inc., J.P. Morgan and Morgan Stanley & Co. LLC were financial advisers to Blackstone. Citigroup Global Markets Inc., Eastdil Secured LLC and Goldman Sachs & Co. LLC offered financing advice.