Blackstone Real Estate Partners Europe IV, a private equity firm, announced that it has acquired 10 real estate assets from TREI Real Estate in Germany for its European logistics company, Logicor.
The warehouse properties are located in logistics markets close to major urban centres, including Düsseldorf, Munich, Berlin and Frankfurt. The properties are leased to tenants such as Netto Marken-Discount, Kaiser’s Tengelmann, Hellmann Worldwide Logistics and Schenker Deutschland. The transaction is the sixth portfolio acquired in Germany for Logicor over the past year and increases the company’s overall Germany portfolio by 400,000 sq m to 1m sq m.
Mo Barzegar, CEO and President of Logicor said, “This acquisition was a unique opportunity to acquire a substantial, high-quality portfolio in Europe’s largest logistics market. We now have a significant footprint in Germany, with 28 assets across the country leased to a broad mix of retail, third party logistics and manufacturing customers.”
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