Blackstone Real Estate Partners Europe IV has acquired 16 UK-based logistics assets from a joint venture between Oaktree Capital Management LP and Anglesea Capital. The acquisition is for Blackstone’s European logistics company Logicor. No financial terms were disclosed.
London, 27 April, 2015 – 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.”
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).