06:46 AM EDT, 10/13/2025 (MT Newswires) -- Blackstone (BX) has reached an agreement to sell its UK logistics assets to Tritax Big Box for 1.04 billion British pounds ($1.39 billion) in cash and stock, the London-listed real estate investment trust said Monday.

Tritax Big Box said it will pay 632 million pounds in cash. It will also issue up to 375 million pounds in shares issued at 1.61 pounds apiece, representing a nearly 8.6% stake in the company.

Tritax Big Box said the acquisition is expected to be mid-single digit accretive to its earnings in the first full year after the purchase, and meaningfully accretive thereafter.

The acquisition consists of 409 units in 41 locations, spanning 6.5 million square feet, the company said.

The deal is expected to be completed on Oct. 22.