Major alternative investments manager Blackstone is bolstering its presence in China with a $1.1 billion investment for a 70% stake in a Greater Bay Area urban logistics park.
The investment will help Blackstone acquire majority ownership in the 1.2 million-square meter logistics park located in Guangzhou, expanding the firm’s logistics portfolio in the country by a third, Blackstone said in a statement Tuesday. The park, located some 15 kilometers from the city’s international airport, houses tenants including third-party logistics providers such as SF Express and YTO Express, and e-commerce players such as Alibaba Group Holding-controlled Tmall, and JD.com.
Blackstone acquired the stake from property developer R...
¬ Haymarket Media Limited. All rights reserved.
