Blackstone Real Estate Partners Europe IV, a real estate private equity firm, has announced the acquisition of 6m 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 from as retailers like Arcadia, B&Q, The Co-Operative, and Debenhams to Unipart. The transaction increases Logicor’s UK portfolio to 21m sq ft.
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.”
