Blackstone has struck a deal value greater than £500mn to purchase a British industrial property firm, because the US personal fairness group retailers for bargains within the UK actual property sector.

Blackstone has supplied to pay shareholders in Industrials Reit a 42 per cent premium to Friday’s closing worth to take the corporate personal. The UK firm’s board mentioned it might advocate Blackstone’s supply to amass the 7mn sq ft portfolio of UK logistics warehouses.

Shares in listed actual property corporations have slumped as rising rates of interest depress property values, creating alternatives for personal funds to snap up portfolios.