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Pure Industrial discloses expected completion date of Blackstone deal

Pure Industrial Real Estate Trust expects to close its deal with an affiliate of Blackstone Group LP's core-plus real estate investment unit Blackstone Property Partners May 24, pending remaining closing conditions.

Upon completion, Blackstone and partner Ivanhoé Cambridge, a Canadian real estate company and unit of CDPQ, will acquire all issued and outstanding units of the industrial real estate investment trust for C$8.10 per unit in cash, with Pure Industrial's units expected to stop trading on the Toronto Stock Exchange the same day.