Blackstone, Ivanhoé close $3.8 bln buy of Pure Industrial Real Estate
Blackstone Property Partners (BPP) and Ivanhoé Cambridge have closed their acquisition of Pure Industrial Real Estate Trust (TSX: AAR.UN), a Vancouver-based owner and operator of industrial properties. The all-cash transaction, announced in January, is valued at $3.8 billion, including debt. It gives BPP and Ivanhoé ownership of 62 percent and 38 percent of the business respectively. Pure, which holds 168 properties across North America, will cease trading on the Toronto Stock Exchange today. BPP and Ivanhoé are respectively the real estate investment arms of Blackstone Group and Caisse de dépôt et placement du Québec.
25 May 2018•3 mins read
