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Sign in Sign up for a FREE subscriptionSingapore fund sells pan-European logistics portfolio for €520m
Macquarie Capital Principal Finance, in partnership with Singaporean real estate fund Elite Partners Capital, has sold its first pan-European logistics portfolio, Elite Logistics Fund I, to Blackstone European Property Income Fund (BEPIF) for €520 million ($587 million).
Elite established the European Logistics Fund I platform approximately 24 months ago together with its capital partner, Macquarie Capital. Over that time the portfolio has significantly grown to comprise 12 logistics and industrial assets across Europe acquired through nine independent transactions.
“Macquarie Capital Principal Finance has been an invaluable strategic and capital partner to us. We were able to leverage off their deep European network and strong balance sheet to acquire our desired assets within a short period of time, despite the challenges posed to us by the COVID-19 pandemic in Europe over the past two years,” said Enoch Tan, portfolio director of Elite Logistics Fund I.
