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UK's Warehouse REIT switches allegiance from Tritax to Blackstone

On Friday, Britain's Warehouse REIT recommended Blackstone to its shareholders the sweetened offer. Tritax Big Box REIT had previously supported this bid.

Blackstone increased its offer to the London-listed firm on Thursday from 485.2 pounds in cash and stock, to approximately 489 million pounds.

Due to the strong demand for warehouse space from eCommerce retailers to better serve their clients, logistics has remained an attractive property investment in a market that is otherwise lacking in vibrancy.

Real estate investment funds - listed property funds - are also undergoing a dealmaking wave as they seek to increase profitability during tough trading conditions.

Tritax said on Thursday that it still believed its buyout offer was "a compelling proposition" for Warehouse investors.

The company didn't respond immediately to a comment request on Friday.

(source: Reuters)