Blackstone to Bring in Ivanhoe on Canadian REIT Purchase

Ivanhoe Cambridge is teaming with Blackstone Group LP on the planned acquisition of Pure Industrial Real Estate Investment Trust, a Canadian warehouse owner, according to two people with knowledge of the transaction.

The real estate arm of Canadian pension fund Caisse de Depot et Placement du Quebec has taken a roughly 40 percent stake in the C$2.48 billion ($2 billion) cash deal to take the Vancouver-based REIT private, said the people, who asked not to be identified because the details haven’t been made public. Blackstone’s planned takeover of Pure Industrial was announced last week.