, Columnist
Blackstone Saw a Real Estate Win That London Missed
Plans to create a UK industrial property titan in a hot market are well-played.
Steve Schwarzman, co-founder and chief executive officer of Blackstone Inc.
Photographer: Bloomberg (2023)
Two mergers in one of the few hot areas of real estate — warehouses — tell you all you need to know about the advantages private equity enjoys over the lifeless UK and European stock markets.
A Blackstone Inc. property fund is bringing together a host of recent acquisitions to create a large, UK-focused logistics landlord. A bigger company with a greater variety of sheds and sites will be more relevant to the likes of Amazon.com Inc. and Deutsche Post AG’s DHL as they cater to consumers wanting a pack of AA batteries delivered in ever fewer hours.