Transactions - JANUARY 20, 2022

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Elite Partners Capital sells portfolio to Blackstone

by Kali Persall

Elite Logistics Fund I, a European logistics real estate fund managed by the Singapore-regulated Elite Partners Capital, has sold its portfolio of 18 properties to a fund managed by the Blackstone Group.

IREI understands the Blackstone European Property Income Fund was involved in the sale and that the deal fetched €520 million ($590 million).

Launched in early 2020, Elite Logistics Fund I is a two-year, closed-end fund listed on the private market exchange ADDX. The fund was invested in mature, income-producing logistics warehouses in the Czech Republic, Germany, Poland, Spain and the United Kingdom.

Tenants included large multinational corporations such as DHL, Pepsi, FM Logistics, Fiege, Havi Logistics and Next.

“Our investment approach focused on well-performing logistics real estate in developed European markets,” said Enoch Tan, portfolio director of Elite Logistics Fund I. “Even prior to the pandemic, we were bullish about logistics because

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