Blackstone Drops $335M On UK Industrial Portfolio

Law360, New York (February 8, 2012, 6:50 PM EST) -- Private equity firm The Blackstone Group LP has purchased a 3.5-million-square-foot portfolio of warehouse properties in the U.K. from leading industrial real estate developer Prologis Inc. for $335 million, Prologis said Wednesday.

Prologis said it earned $295 million in proceeds from the sale. The company divested itself of the portfolio of 13 properties because it no longer fit within its primary investment strategy of holding and using the industrial properties it develops, according to a Wednesday statement.

“We were pleased with the amount of interest this...
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