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Business deals

Blackstone to buy Daiwa House logistics centers for $523m

US private equity fund eyes growth in e-commerce triggered by coronavirus

U.S. private equity fund Blackstone has been actively investing in logistics facilities in Japan as it looks to capitalize on the growth of e-commerce. (Source photo by Kaisuke Ota and AP)

TOKYO -- Blackstone will purchase four logistics facilities in Japan from Daiwa House Industry, Nikkei has learned, as the U.S. private equity group seeks new investment opportunities in Japan amid growing e-commerce business triggered by the novel coronavirus outbreak.

Logistics centers are drawing investors' attention as the pandemic prompts more people to shop online. The use of these facilities is rising, along with inventories, and e-commerce is expected to continue growing over the long term. Blackstone has been actively investing in logistics properties in Japan, spending more than 100 billion yen ($950 million) in 2019.

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