GIC Sells its Stake in Dexus Australia Logistics Trust to Blackstone
Posted on 12/10/2021
Blackstone Inc. is purchasing a 49% stake in Dexus Australia Logistics Trust (DALT) from Singapore’s GIC Private Limited for A$ 2.1 billion (US$ 1.5 billion). Blackstone is making the deal for its Core+ Real Estate strategy. Dexus Property Group will own the rest of the joint venture at 51%. Approximately 90% of DALT’s portfolio is exposed to Sydney and Melbourne and is weighted to traditional logistics facilities.
Keywords: Blackstone Group LP.
