Blackstone acquires 16 U.K. logistics assets
Blackstone Real Estate Partners Europe IV has acquired 6 million square feet of logistics assets in the United Kingdom for its European logistics company, Logicor, from a joint venture between funds managed by Oaktree Capital Management and Anglesea Capital. A sales price was not disclosed; however Real Capital Analytics lists the price to be approximately £184 million ($273 million) and The Wall Street Journal estimates the price to be approximately £400 million ($607.3 million).
The transaction increases Logicor’s U.K. portfolio to 21 million square feet.
The portfolio of 16 warehouse properties are located in core logistics markets close to major urban centers across the United Kingdom, including Birmingham, Leeds and Oxford. The properties are leased to a diverse range of tenants such as Arcadia, B&Q, The Co-Operative,