Apr 18, 2021 - Economy & Business

Blackstone sells $3 billion in logistics assets

Blackstone Group.

Photo: Scott Eells/Bloomberg via Getty Images

Blackstone Group has agreed to sell a slate of warehouse and logistics assets in Australia to the Hong Kong-based ESR Cayman Ltd. for $2.9 billion, a source familiar with the deal confirmed.

Why it matters: It's Australia's biggest real estate deal in five years, according to Bloomberg, which first reported the news.

Our thought bubble via Axios' Dan Primack: Blackstone has become one of the world’s biggest owners of warehouses, which have taken on increased importance with the continued rise of e-commerce.

  • Blackstone used to be a private equity investor that also did property. It's now more a property investor that also does private equity.
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