Clayton Utz Guides Blackstone's Australia Logistics Buy

By Andrew McIntyre (December 10, 2021, 7:28 PM EST) -- Clayton Utz represented Blackstone Group in connection with its deal, announced Friday, to buy a 49% stake in Dexus Australia Logistics Trust from Singapore sovereign wealth fund GIC.

New York-based Blackstone did not disclose terms of the deal, which was widely reported to be worth roughly $1.5 billion, only saying it was the largest-ever investment in Asia by its so-called real estate Core+ strategy.

With the purchase, Blackstone is buying GIC's entire stake in the trust, which owns 77 logistics properties in Australia. Most of the properties are in the Sydney and Melbourne areas.

"We are pleased to both acquire a...

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