Home Real Estate WPT Industrial Real Estate Investment Trust to Be Acquired

WPT Industrial Real Estate Investment Trust to Be Acquired

4

TORONTO and NEW YORK, Aug. 09, 2021 (GLOBE NEWSWIRE) — WPT Industrial Real Estate Investment Trust (TSX: WIR.U; WIR.UN) (OTCQX: WPTIF) (“WPT”) and Blackstone Real Estate Income Trust, Inc. (“BREIT”) announced today that WPT has entered into an arrangement agreement (the “Arrangement Agreement”) under which BREIT will acquire all of the outstanding units of WPT (each, a “Unit”) through a series of transactions that will result in unitholders receiving US$22.00 per Unit in an all-cash transaction valued at US$3.1 billion including the assumption of debt (the “Transaction”).

The Transaction price of US$22.00 per Unit represents a 17.1% premium to the closing price of the Units on the TSX on August 6, 2021, the last trading day prior to the announcement of the Transaction, a 19.5% premium to WPTs 30-day volume-weighted average Unit price on the TSX for the period ending August 6, 2021 and a 32.1% premium to the current research consensus…

Click here for full article…www.globenewswire.com