Blackstone To Acquire GIC's 49% JV Interest In Dexus Australian Logistics Trust

(RTTNews) - Dexus said Blackstone's Core+ Real Estate strategy in Asia has signed a binding agreement to acquire GIC's 49% joint venture interest in the Dexus Australian Logistics Trust. The transaction was a result of an unsolicited proposal by Blackstone. The existing management arrangements for the Dexus Australian Logistics Trust remains unchanged.

Blackstone's Core+ strategies focus on logistics, residential, office, life science office, and retail assets in global gateway cities.

Darren Steinberg, Dexus CEO, said: "This new relationship provides a stable long-term source of capital to invest alongside us."