Blackstone is close to finalising a £1bn sale of UK logistics assets to Tritax Big Box REIT, in a deal that could see the private equity giant receive part of the payment in equity, according to a report by Sky News.

The transaction would further strengthen ties between two of the sector’s biggest players, following their recent competition for Warehouse REIT, where Blackstone emerged with a £500m offer that prompted Tritax to withdraw.

Sources said the new agreement could be announced within days and may result in Blackstone becoming one of Tritax Big Box’s largest shareholders, depending on the amount of stock included in the consideration.

Tritax Big Box, valued at around £3.65bn, continues to capitalise on strong demand for large-scale logistics and distribution hubs. Its assets include a 2.3m sq ft facility on the former Littlebrook power station site in Kent, largely pre-let to Amazon and IKEA.

Blackstone, which has committed to investing £100bn in the UK in the coming years, remains an active player in logistics and industrial real estate, reflecting the sector’s resilience amid broader market headwinds.

Both companies declined to comment on the discussions.

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