Burstone Group has formed a strategic partnership with funds managed by affiliates of Blackstone, following Blackstone’s acquisition of an 80 percent stake in Burstone’s €1.1 billion ($1.2 billion) Pan-European Logistics (PEL) platform.
Burstone Group will retain the remaining 20 percent stake, with its highly experienced Burstone Europe team, led by managing director Paul Rodger, continuing to manage the portfolio.
Amassed since 2017, the portfolio comprises 32 high-quality midsize and big-box logistics properties located around key European urban centers in seven countries, including in Germany, France and the Netherlands. The 1.2 million-square-meter (12.9 million-square-foot) portfolio is 97 percent occupied by more than 110 tenants, primarily in the third-party logistics sector, which benefit from the assets’ strategic micro-locations with exemplary trans
