June 2, 2017 Comments Off on Blackstone Selling Logicor for $14B Views: 3947 National News, New York, Northeast

Blackstone Selling Logicor for $14B

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Funds managed by Blackstone agreed to divest its Logicor industrial portfolio to affiliates of Beijing-based China Investment Corporation for $13.8 billion. The portfolio totals 147 million square feet, and is located in 17 countries, with more than 70% concentrated in the UK, Germany, France and Southern Europe.

It is the biggest private equity real estate deal on record in Europe. Founded in 2012, Logicor is the largest owner of European logistics and distribution facilities, with Amazon one of its main occupiers.

Blackstone’s Anthony Myers said, “We built Logicor through over 50 acquisitions to be a premier pan European logistics real estate company. 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.”

The deal is expected to close later this year. Eastdil Secured and Goldman Sachs were lead advisors to Blackstone.

Read more at Blackstone

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