Tritax Big Box REIT (BBOX) is the largest listed investor in high-quality logistics warehouse assets, controls the largest logistics-focused land platform in the UK and has a “power first” data centre development pipeline of over 1GW – advised by Akur since 2013
About the transaction:
Akur advised Tritax Big Box REIT throughout its transaction with the UK-based arm of Blackstone Inc., the world’s largest alternative asset manager. The transaction comprised a complex acquisition of an exceptional portfolio of 41 logistics assets, weighted towards urban logistics, valued at £1.04 billion.
The assets were acquired from real estate funds advised by affiliates of Blackstone Europe LLP, with consideration comprising a combination of cash and the issue of new equity at a c.13.5% premium to BBOX’s prevailing share price.
With a resultant portfolio valued at nearly £8 billion, the acquisition strengthens the Company’s competitive edge through increased asset depth across big box, urban and multi-let industrial logistics formats – further broadening its client offering and supporting a diverse range of occupier needs with greater operational flexibility. It will also deliver attractive returns for shareholders, supporting the Company’s earnings growth ambitions.
Triple Point Energy Transition plc (“TENT”), an investment company, listed on the London Stock Exchange, investing in a diversified portfolio of assets contributing to energy transition, including hydro, grid scale battery storage, and CHP.
About the transaction:
Akur, on behalf of the Board of Directors, undertook a review of the strategic options available to TENT in November 2023, resulting in a Board decision to proceed with a take private via asset realisation – leading to a managed wind-down of the company. Akur led the process on behalf of the Board, from seeking shareholder approvals, through advising on the return of value to shareholders following the asset realisations.
+44 207 493 3631
“
“