Blackstone has launched its pan-European last-mile logistics real estate company, Mileway. The new company owns and operates approximately 1,000 logistics assets that have been acquired by real estate funds managed by Blackstone over the last several years.
The portfolio spans eight major European economies. Core markets of the United Kingdom, Germany, the Netherlands and France represent more than 80 percent of the portfolio, with a growing presence in the Nordics and Southern Europe. The business is headquartered in Amsterdam and has a dedicated team of over 150 employees, with a local presence in each of its markets.
“As the largest last-mile logistics real estate company in Europe, Mileway will meet growing e-commerce-related demand for last-mile logistics real estate, facilitate faster delivery times, and support the growth of small and large businesses,” said James Seppala, head of Blackstone real estate Europe.
Mileway’s logistics properties, which are predominantly located within and around major European cities serving the last-mile needs of its tenant base, total more than 9 million square meters (97 million square feet). The portfolio spans urban centers across Europe’s largest economies, including the United Kingdom, Germany, France, Spain, the Netherlands and the Nordics. The company will continue to expand its portfolio in existing and new markets.
Emmanuel Van der Stichele has been appointed the chief executive of Mileway. Van der Stichele was previously fund director of the Goodman European Logistics Fund, one of the largest European nonlisted logistics funds with approximately €3.5 billion ($3.9 billion) of assets under management. Dominiek Van Oost has been appointed COO and Thomas ten Bokum will start as the new head of investment and portfolio management in October 2019.
