China Investment Corporation (CIC) bought Logicor warehouse portfolio from Blackstone, having paid €12.5bn. The 13.6 million square meter portfolio includes Amazon distribution center in Dobrovíz outside Prague.
Anthony Myers of Blackstone said Logicor’s portfolio had been assembled through the completion of more than 50 acquisitions. These included buying Polish properties from Panattoni Europe in 2012, European logistics parks from SEB Asset Management in 2014 and a 1 million square meter portfolio acquired from Immofinanz in early 2016. “It will now have an excellent new long-term owner, and we have no doubt that it will go from strength to strength in a sector with hugely positive prospects.”
Other Asian investors were reportedly competing for Logicor, in particular Singapore-based Global Logistic Properties from Singapore and a JV between Mapletree and Temasek, both of which are also from Singapore.
