Blackstone Real Estate Partners Europe IV (“Blackstone”) announces the
acquisition of six million sq ft of logistics assets in the UK for its
European logistics company, Logicor, from a joint venture between funds
managed by Oaktree Capital Management, L.P. and Anglesea Capital.
The portfolio of 16 warehouse properties are located in core logistics
markets close to major urban centres across the UK, including
Birmingham, Leeds and Oxford. The properties are leased to a diverse
range of tenants such as Arcadia, B&Q, The Co-Operative, Debenhams and
Unipart.
This transaction increases Logicor’s UK portfolio to 21 million sq ft (2
million sq metres).
Mo Barzegar, CEO and President of Logicor, said:
“This transaction was a unique opportunity to acquire a substantial,
high-quality portfolio in one of Europe’s largest and most important
logistics markets. Logicor continues to expand and this latest
acquisition by Blackstone comes after notable recent growth for our
platform in Germany and Portugal, as well as acquisitions in France and
Spain as part of the GE portfolio Blackstone agreed to acquire earlier
this month. Our pan-European platform is clearly going from strength to
strength.”
Charlie Howard, Managing Director – UK, Logicor added:
“This transaction enhances our relationships with a number of important
customers and strengthens our overall position as a leading owner and
operator of logistics warehouses.”
About Logicor:
Logicor, Blackstone's European logistics platform, is one of the premier
real estate companies in Europe focusing on the operation of modern
logistics and distribution properties. Logicor currently owns in excess
of 7.4 million metres in properties across key markets in 12 countries.
About Blackstone Real Estate:
Blackstone is a global leader in real estate investing. Blackstone’s
real estate business was founded in 1991 and has more than $93 billion
in investor capital under management. Blackstone’s real estate portfolio
includes hotel, office, retail, industrial and residential properties in
the US, Europe, Asia and Latin America. Major holdings include Hilton
Worldwide, Invitation Homes (single family homes), Logicor (pan-European
logistics), SCP (Chinese shopping malls), and prime office buildings in
the world’s major cities. Blackstone real estate also operates one of
the leading real estate finance platforms, including management of the
publicly traded Blackstone Mortgage Trust (NYSE: BXMT).
Photos available on request.
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