InfraRed Capital Partners Ltd., on behalf of its InfraRed Active Real Estate Fund IV (IRAF IV), has sold a portfolio of last-mile logistics assets in the United Kingdom and France to Blackstone real estate funds for £250m (€290 million/$tk million). The assets will be incorporated into Mileway, Blackstone’s pan-European last-mile logistics platform.
The portfolio comprises 2.2 million square feet of warehousing space across 50 properties in the United Kingdom and France. The U.K. portfolio, totaling 1.6 million square feet, is located mainly in the North West near the metropolitan areas of Manchester, Liverpool, Leeds and Sheffield. The French portfolio is entirely located in the Greater Paris region within well-established industrial hubs, such as Malakoff, Massy, Palaiseau and Choisy.
InfraRed grew the portfolio to its current size through a series of acquisitions over the course of 2018 and 2019 and carried out several value-enhancing initiatives, including the
