Alexander & Baldwin Inc. (A&B), a major Hawaiʻi commercial real estate owner, has entered a definitive merger agreement to be acquired by a joint venture including MW Group, Blackstone Real Estate, and DivcoWest. The all-cash deal values the company at approximately $2.3 billion, with shareholders receiving $21.20 per share, a 40.0 per cent premium. A&B, the largest owner of grocery-anchored shopping centres in Hawaiʻi, will become a private company following the expected closure in the first quarter of 2026. The investor group has pledged to retain the company's local focus, leadership, and brand, alongside a commitment to invest over $100 million into the property portfolio.
LBA Logistics has acquired Core45 Building 1, a newly constructed 616,068-square-foot Class AA industrial facility in the South Dallas market. The sale was managed by JLL Capital Markets, which represented the seller, an affiliate of Grandview Partners. Completed in 2023, the property is 48 per cent leased to investment-grade tenant Owens Corning.
The launch of Peregrine Cold Logistics by Stonepeak signals a major new investment push into the temperature-controlled supply chain sector across Asia Pacific and the GCC. Peregrine, based in Singapore, is setting out to tackle the growing regional demand for modern, high-quality cold storage and logistics solutions, driven by factors like increasing urbanisation and shifting consumption patterns.
Investcorp Capital PLC, the ADX-listed firm founded by Investcorp, announced the acquisition of a diversified US industrial real estate portfolio for approximately $400 million. The 35-building, 2.6 million square-foot portfolio is 97% occupied and spans seven resilient coastal markets including Sacramento, Philadelphia, Long Island and multiple locations in Florida.
The Saudi Authority for Industrial Cities and Technology Zones, MODON, and JINGDONG Property, JD.com’s infrastructure arm, have signed an MoU to develop and operate two million square metres of logistics and industrial assets in Saudi Arabia. The agreement, sealed at the UNIDO GC21 in Riyadh, focuses on projects in Riyadh, Jeddah, and Dammam. The first project will be a 40,000+ sqm Grade-A speculative warehousing facility in Jeddah Industrial City, built to BREEAM Excellence standards.
Watts Water Technologies Inc., a world leader in water solutions, has successfully purchased Saudi Cast. This strategic purchase was completed on December 1, 2025. It was financed using Watts’ existing cash reserves. Saudi Cast brings annualised sales of about $20 million to Watts. The acquired business will now operate within the APMEA regional segment. The move expands Watts’ operational reach in the Middle East.
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