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Blackstone to Acquire Vancouver-Based Pure Industrial REIT for C$3.8 Billion

This 278,400-square-foot distribution building in Hopewell Distribution Centre in Richmond, BC, is part of PIRET's Canadian portfolio. An affiliate of Blackstone Group LP has agreed to acquire Pure Industrial Real Estate Trust (TSX: AAR.UN) ("PIRET") in an all-cash transaction valued at C$3.8 billion including debt. Under the purchase agreement announced this morning, Blackstone Property Partners, the private-equity giant's core-plus real estate...