Blackstone Seals £489 Million Takeover of UK’s Warehouse REIT

Blackstone Inc. has sealed a deal to acquire UK industrial property landlord Warehouse REIT Plc, ending a months long pursuit.

The private equity firm’s 115 pence a share offer — valuing the company at about £489 million ($660 million) — has crossed the threshold to declare the offer unconditional, according to a statement Monday. About 16.4% of shareholders have accepted the offer, which together with the shares Blackstone already owns or has received commitments on, pushed total acceptances to 51.6% as of 6 p.m. on Friday, it said.

Blackstone continues to bet heavily on UK warehouses, a sector ...