Blackstone confirms €12.25b sale of Logicor

The Blackstone Group  announces that real estate funds managed by Blackstone have agreed to sell their pan European logistics company, Logicor, to affiliates of China Investment Corp. for €12.25 billion ($13.8 billion).

Logicor owns and operates a portfolio of high-quality logistics assets totaling 147 million square feet, in 17 countries with more than 70 percent concentrated in the United Kingdom, Germany, France and Southern Europe.  Located throughout Europe’s major economies, along primary transport corridors and in close proximity to large population centers, the portfolio is ideally positioned to benefit from the structural shift in demand driven by the rapid growth in e-commerce.