Blueprint: ESR, ARA team up to take on the future; Blackstone’s acquisition streak continues; PSP, Cadillac Fairview are UK-bound

ESR acquires ARA with an eye toward logistics, data center dominance; Blackstone scoops up another industrial platform; PSP doubles down on UK build-to-rent and brings Cadillac Fairview along for the ride; KKR climbs the fundraising ranks; and more in today's briefing, exclusively for our valued subscribers.