Blackstone buys French logistics portfolio for €233m
Rockspring Property Investment Managers, on behalf of Rockspring TransEuropean Property Limited Partnership V, has completed the sale of the fund’s French logistics portfolio in its entirety to real estate funds managed by The Blackstone Group for €233 million ($248 million).
Comprising more than 3.2 million square feet of class A space across seven properties, the portfolio was assembled by TEP V between December 2012 and September 2015 as part of the fund’s European logistics strategy. All of the properties are located within France’s key north/south logistics corridor, around Paris and Lyon.
The largest is the 1.5 million-square-foot Paris-Oise Logistics Park, in Longueil Sainte Marie outside of Paris.
TEP V is the fifth fund in Rockspring’s TransEuropean series. It launched in 2012 with an ability to invest €700 million ($744 million). To date, the fund has invested approximately €690 million ($733 million) in France, Germany, the Ne