Ares Management Corp. purchases French industrial portfolio from Blackstone

An unknown fund managed by Ares Management Corp. has acquired portfolio of industrial assets with main logistics corridor from unknown fund managed by Blackstone, according to other media outlets.

The value of the deal is estimate to be €300 million ($320 million).

The portfolio comprises approximately 360,000 square meters (3.9 million square feet) of logistics space across nine high-quality assets located in France’s prime logistics markets, including Paris, Lyon and Marseille.

The assets are located along the French Dorsal Axis, the country’s most prominent logistics route running through key urban areas and serving as an international logistics route connecting Northern and Southern Europe.