Blackstone Real Estate Income Trust Completes Acquisition of WPT Industrial Real Estate Investment Trust

TORONTO and NEW YORK, Oct. 20, 2021 (GLOBE NEWSWIRE) — Blackstone Real Estate Income Trust, Inc. (“BREIT”) announced that an affiliate has completed its acquisition of WPT Industrial Real Estate Investment Trust (TSX: WIR.U; WIR.UN) (OTCQX: WPTIF) (“WPT”) in a series of transactions that resulted in unitholders receiving US$22.00 per outstanding unit of WPT (collectively, “Units”) (subject to applicable withholdings) in an all-cash transaction valued at US$3.2 billion, including the assumption of debt (the “Transaction”). The Units will be delisted from the Toronto Stock Exchange at the close of business today and WPT will apply to cease to be a reporting issuer under applicable Canadian securities law.

Following closing of the Transaction, former members of the WPT management team will continue to do business under the name WPT Capital Advisors, as an independently owned and operated company.