Blackstone Real Estate Partners Europe IV announces the acquisition of 6 million ft² (557,418 m²) 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 centers across the UK, including Birmingham, Leeds and Oxford. The properties are leased to a diverse range of tenants such as Arcadia, B&Q and The Co-Operative.
This transaction increases Logicor’s UK portfolio to 21 million ft² (2 million m²).
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.”