Blackstone Group is in talks to purchase 37 logistics centers from Neinver and Colony Capital for €290 million ($327 million), according to media outlets.
The portfolio totals 261,000 square meters (2.9 million square feet).
The new acquisition boosts Blackstone’s investment strategy in Spain, where it already owns a portfolio worth more than €22 billion ($25 billion).
During 2018, Blackstone has acquired four logistics platforms of DIA in Spain for approximately €90 million ($102 million); purchased the logistics portfolio of Lar España, consisting of four logistics warehouses in Alovera (Guadalajara), one in the Juan Carlos I Industrial Park of the Valencian town of Almussafes and one land parcel for logistics development in the Valencian municipality of Cheste, for €119.7 million ($135 million). It also completed the purchase of 50.01 percent of the capital of Testa Residencial for an amount of €321.2 million ($362.7 million) from Merlin Properties, Banco Santander and BBVA.
