Blackstone buying WPT Industrial in $3B deal

In its latest move, the firm’s private real estate investment trust is acquiring WPT Industrial Real Estate Investment Trust in an all-cash deal valued at $3.1 billion, according to Bloomberg. Debt is included in that valuation, according to the report.

The deal was done through Blackstone Real Estate Investment Trust. Over the past year, BREIT has added west coast warehouses, Silicon Valley offices and mobile-homes in Florida for a combined $1.8 billion.

WPT rose almost 16 percent in trading on the Toronto market — where the company is based — after news of the acquisition emerged.