Blackstone Real Estate Income Trust Completes Acquisition of WPT Industrial Real Estate Investment Trust
October 20, 2021 at 13:00 PM EDT
Blackstone Real Estate Income Trust, Inc. (“BREIT”) announced that an affiliate has completed its acquisition of WPT Industrial Real Estate Investment Trust (TSX: WIR.U; WIR.UN) (OTCQX: WPTIF) (“WPT”) in a series of transactions that resulted in unitholders receiving US$22.00 per outstanding unit of WPT (collectively, “Units”) (subject to applicable withholdings) in an all-cash transaction valued at US$3.2 billion, including the assumption of debt (the “Transaction”). The Units will be delisted from the Toronto Stock Exchange at the close of business today and WPT will apply to cease to be a reporting issuer under applicable Canadian securities law.
Following closing of the Transaction, former members of the WPT management team will continue to do business under the name WPT Capital Advisors, as an independently owned and operated company.
For more information on the Transaction, please see the news releases issued by WPT on August 9, 2021, September 10, 2021, September 23, 2021, October 7, 2021 and October 13, 2021 along with WPT’s management information circular dated September 2, 2021 prepared in connection with the Transaction, all of which are available under WPT’s profile at www.sedar.com or WPT’s website at www.wptreit.com.
Unitholders who have questions or require assistance with submitting their Units in connection with the Transaction may direct their questions to Computershare Investor Services Inc., which is acting as depositary in connection with the Transaction, by phone toll-free at 1-800-564-6253 or by email at firstname.lastname@example.org.
Blake, Cassels & Graydon LLP and Vinson & Elkins LLP acted as legal counsel to WPT in connection with the Transaction and Wildeboer Dellelce LLP acted as independent legal counsel to the Special Committee.
Eastdil Secured, Goldman Sachs & Co. LLC, BofA Securities and BMO Capital Markets acted as financial advisors to BREIT and Simpson Thacher & Bartlett LLP and Goodmans LLP acted as legal counsel to BREIT.
About Blackstone Real Estate Income Trust
About WPT Industrial Real Estate Investment Trust
Although WPT believes that the expectations and assumptions on which the forward-looking information contained in this news release is based are reasonable, undue reliance should not be placed on the forward-looking information because WPT can give no assurance that it will prove to be correct. Since forward-looking information addresses future events and conditions, by its very nature it involves inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks.
The forward-looking information contained in this news release represents WPT’s expectations as of the date hereof, and is subject to change after such date. WPT disclaims any intention or obligation to update or revise any forward-looking information whether as a result of new information, future events or otherwise, except as required under applicable Canadian securities laws.