Blackstone Real Estate Partners Europe IV has acquired 160,000 sqm of logistics space at three locations in Germany for its European logistics company, Logicor. The warehouse investments are situated in core logistics markets near Cologne and Düsseldorf and are fully leased to the logistics arm of a leading German department store. This transaction is the fifth portfolio acquired in Germany over the past year and increases Logicor’s overall German portfolio by more than 40 percent, taking it to 550,000 sqm.
“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. This is a great start for us in 2015, and we look forward to building our pan-European portfolio further over the coming months,” said Mo Barzegar, chief executive and president of Logicor
