The ASX-listed GPT Group has swooped on a 28-asset warehouse portfolio offered by Ascot Capital, stretching past its competitors with an offer of around $825 million that will help set a benchmark on pricing for the booming industrial property market.

The contest for the portfolio of 24 logistics assets and four offices has been closely watched in the market. The Ascot transaction is the latest in a series of mega-deals this year as investment and prices rise in the sector amid an e-commerce boom.