Indurent, a UK industrial property company owned by Blackstone, has acquired a £200m (€241m) property portfolio.
The portfolio of 18 assets includes multi-let estates and mid-box warehouses across the UK, alongside two land plots with potential for development. Many of the assets are located in or near major cities such as Leeds, Manchester, Reading and Birmingham.
Indurent said it will refurbish the portfolio to make the units suitable for tenants.
The transaction is the latest addition to Indurent’s £1bn in acquisitions in 2024. It comprises around £600m allocated to acquiring operational assets and about £400m invested or committed to new developments.
Julian Carey, CEO at Indurent, said: “The long-term outlook for the sector remains highly compelling. This acquisition further underlines our commitment to building a portfolio of high-quality, well-connected assets which give our customers the best choices from which to run and grow their businesses.
“We are actively seeking opportunities to expand our portfolio in 2025 through further acquisitions, as well as developing an additional 2m sqft of new sites each year from our significant landbank, creating jobs and fuelling national and regional growth.”
Blackstone established Indurent in 2024 by bringing together the former Industrials REIT and St Modwen Logistics businesses.
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