Blackstone Real Estate Partners Europe IV, a private equity firm, announced that it has acquired three assets in Germany for its European logistics company, Logicor. The warehouse properties are located in logistics markets adjacent to the city centres of Cologne and Düsseldorf and are 100% leased to the logistics arm of a German department store.
This transaction is the fifth portfolio acquired by Blackstone in Germany over the past year and increases Logicor’s overall Germany portfolio by more than 40%, taking it to 550,000 sq m.
Mo Barzegar, Chief Executive and President of Logicor said, “This acquisition substantially increases our exposure in a core European logistics market with solid long-term real estate operating and economic fundamentals. Our investment strategy remains focused on acquiring high-quality, well-located product that represents value-added opportunities in the short to mid-term.”
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