Logistics real estate giant Tritax Big Box is set to acquire over £1bn of logistics assets from US global asset manager Blackstone, in a move which expands Tritax’s urban footprint across key last-mile and urban sites in the South East and Midlands, where there are limited levels of new supply.
The deal brings Tritax a 6.5 million sq ft portfolio of 409 units, boosting the company’s urban/small box offering. It includes 32 urban logistics/small box and nine big box assets located in core regions across the UK with 36% in or around the South East and 53% suited to the urban logistics market.
Announcing the deal Tritax Big Box said the acquisition adds a portfolio of “high quality, well located urban logistics” to its stock which would be “difficult to replicate through piecemeal acquisition strategy.”
It added: “Competition for land and shifting demographics have reduced logistics space in UK cities, severely constrained new supply and decreased options for occupiers.
“Meanwhile, rising demand for rapid delivery is reshaping supply chains and broadening the occupier base, supporting sustainable rental growth.”
The acquisition is expected to complete on or around 22 October 2025. As part of the deal Blackstone will take a 8.6% share in Tritax Big Box.
Commenting on the acquisition, Colin Godfrey, Tritax Big Box chief executive, said: “Aligned with our strategic objectives, this exceptional portfolio offers strong rental reversion and numerous asset management opportunities. It also significantly broadens our client proposition across key urban logistics markets and reinforces our leading position in mission critical big boxes.”
He added: “I welcome Blackstone as a new 8.6% shareholder in Tritax Big Box; their investment at a material share price premium demonstrates confidence in our team, our leading position in UK logistics, the strong attributes of the transaction and positive outlook for both our business and the market.”
James Seppala, Blackstone Europe chairman and head of real estate Europe, said: “This transaction reflects our conviction in Tritax Big Box and its market-leading position, as well as our continued conviction in the UK logistics sector.
“This portfolio represents a rare aggregation of high-quality properties with meaningful embedded rental growth potential. The Tritax team’s strong asset management track record make them an excellent steward for these assets in the future.
He added that the company’s decision to take an 8.6% share in Tritax “reflects our belief in the company’s long-term strategy and outlook, and we are excited by the opportunity to participate in the future success of the enlarged business.”
