Warehouse REIT PLC (AIM:WHR) has become the latest undervalued mid-cap to fall to bargain hunters in what is fast becoming a feeding frenzy on unloved UK-listed companies.
Following recent takeover deals struck for H&T Group, Deliveroo, Dowlais, and Kinovo, Blackstone has agreed to acquire the property group for £470 million, or 109 pence per share in cash.
Founded in 2017, Warehouse REIT specialises in industrial and logistics real estate, with a primary focus on multi-let warehouse estates that enable tenants to scale operations up or down as required.
At 31 March 2025, its portfolio was independently valued at £805.4 million, comprising 6.9 million square feet of space generating annual rent of £42.5 million.
The agreed deal brings the curtain down on three months of behind-the-scenes wrangling and a number of deadline extensions.
The shares rose 8% to 107p.