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Jun

22

Blackstone’s Logicor Adds 19-Asset Portfolio

By Tony Seruga

Logicor now controls nearly 35 million square of industrial cross France and Germany.

LONDON—Logicor, the Blackstone Group’s industrial property arm in Europe, said Friday it had acquired 19 assets in France and Germany from Goodman European Logistics Fund. Deal terms were not disclosed; however, published reports have estimated the purchase price of the 5.16-million-square-foot GELF portfolio at between €300 million and €400 million, or US $410 million to US $564 million.

“This high-quality portfolio is an excellent fit for our European logistics platform as it deepens our market penetration and key customer relationships across strategic logistics hubs within France and Germany,” saysMo Barzegar, Logicor’s London-based CEO and president. It comprises 10 assets in France, located mainly in Lille, Paris and Lyon, and nine in Germany…

Blackstone’s Logicor Adds 19-Asset Portfolio

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