Blackstone Real Estate Income Trust, Inc. entered into an arrangement agreement to acquire WPT Industrial Real Estate Investment Trust (TSX:WIR.UN) from Alberta Investment Management Corporation, Middlefield Canadian Income PCC, managed by Middlefield International Limited and Middlefield Limited and others for $1.9 billion on August 8, 2021. Under the terms of agreement, Blackstone will acquire all of the outstanding units of WPT for $22 per unit. Following completion of the transaction, it is anticipated that the units will be delisted from the Toronto Stock Exchange and the REIT will cease to be a reporting issuer under applicable Canadian securities law. In case of termination by accepting a superior proposal by WPT, a fee of $73.8 million will be paid to Blackstone. In certain circumstances, Blackstone is required to pay a $236.1 million termination fee to WPT upon the termination of the agreement. Completion of the transaction is subject to customary conditions, including approval of at least 66 2/3% of the votes cast by WPT unitholders at a special meeting, exercised Dissent Rights shall not exceed 10% of the WPT Units issued and outstanding and court approval. After receiving the unanimous recommendation of a committee of independent members of the Board of Trustees of WPT, the Board of Trustees has unanimously determined that the transaction is in the best interests of WPT and the Unitholders and that the Arrangement and the transactions contemplated thereby are fair to the Unitholders, and is unanimously recommending that Unitholders vote in favor of the transaction. On September 2, 2021, the Supreme Court of British Columbia granted an interim order regarding the arrangement. As of October 13, 2021, the Supreme Court of British Columbia has issued a final order approving its previously announced plan of arrangement. As of September 23, 2021, Shareholder Services Inc. and Glass Lewis and Co., LLC have recommended that unitholders of the WPT Industrial Real Estate Investment Trust vote FOR the special resolution approving the plan of arrangement. As of October 7, 2021, the WPT Industrial Real Estate shareholders approved the transaction. WPT Industrial units will be removed from the S&P/TSX Composite Index prior to the open of trading on October 20, 2021. The transaction is expected to close in the fourth quarter of 2021. The effective date of the transaction will be October 20, 2021. The transaction is expected to be accretive to Middlefield Canadian Income PCC's NAV. Morgan Stanley & Co. LLC and Desjardins Securities Inc. are acting as financial advisors and fairness opinion provider to WPT and Blair Franklin Capital Partners Inc. has provided the special committee of WPT with a fairness opinion in respect of the transaction. Will Fung and Michael Gans of Blake, Cassels & Graydon LLP and John Kupiec of Vinson & Elkins LLP are acting as legal counsel to WPT and Wildeboer Dellelce LLP acting as independent legal counsel to the special committee of WPT. Eastdil Secured, L.L.C.is acting as financial advisor to Blackstone. Brian Stadler, Matt Rogers, Amy Hutchings, Hadley Nagel, Sas Mehrara, Leanne Welds, Amy Oster, Allison Moore, Nancy Mehlman, Ed Grais, Andrew Blau, Laura Gallo, Guanxiong Xu, Ben Wells, Adeeb Fadil and Kelly Karapetyan of Simpson Thacher & Bartlett LLP and Tim Heeney and Chris Sunstrum of Goodmans LLP are acting as legal advisors to Blackstone. Laurel Hill Advisory Group acted as the information agent to WPT as part of the transaction. Computershare Investor Services Inc. acted as the depository of WPT. Torys LLP acted as legal advisor to Alberta Investment Management Corporation. Blackstone Real Estate Income Trust, Inc. completed the acquisition of WPT Industrial Real Estate Investment Trust (TSX:WIR.UN) from Alberta Investment Management Corporation, Middlefield Canadian Income PCC, managed by Middlefield International Limited and Middlefield Limited and others on October 20, 2021. Following closing of the transaction, former members of the WPT management team will continue to do business under the name WPT Capital Advisors, as an independently owned and operated company. Goldman Sachs & Co. LLC, BofA Securities Inc. and BMO Capital Markets all acted as financial advisors to Blackstone Real Estate Income Trust, Inc.