Simpson Thacher is advising Blackstone on the sale of its U.K. logistics assets to Tritax Big Box REIT plc ("BBOX" or the "Company") for £1.04 billion. As part of the transaction, Blackstone will become a circa 9% shareholder in the Company.
BBOX will acquire a high-quality portfolio of logistics assets from certain real estate funds advised by affiliates of Blackstone Europe LLP.
The consideration for the acquisition is a mix of cash and newly issued BBOX shares. The acquisition is expected to complete on or around 22 October 2025, subject to the satisfaction of certain conditions including (amongst others) the Company entering into a debt facility to fund the cash consideration.
BBOX is the largest listed investor in high-quality logistics warehouse assets and controls the largest logistics-focused land platform in the U.K.
The Simpson Thacher team includes Wheatly MacNamara, Lucy Gillett, Spencer Patton, Seema Walji, Emily Fanning, Max Herberg Fernandez and Lachlan Paterson (M&A); Tom Lloyd, Yasmin Smedley and Alasdair Huggett (Real Estate Finance); and Sarah Lindley, Chris Dorman and Daniel Griffiths (Tax).