Blackstone Real Estate Partners Europe IV has acquired 6m sq ft of logistics assets in the UK for its European logistics company, Logicor, from a joint venture between funds managed by Oaktree Capital Management and Anglesea Capital.
Blackstone paid more than £358m for the portfolio of 16 warehouses, which are located across the UK, including in Birmingham, Leeds and Oxford.
The properties are leased to tenants including Arcadia, B&Q, the Co-Op, Debenhams and Unipart.
Logicor’s UK portfolio now comprises 21m sq ft.
Mo Barzegar, chief executive and president of Logicor, said: “Logicor continues to expand and this latest acquisition by Blackstone comes after notable recent growth for our platform in Germany and Portugal, as well as acquisitions in France and Spain as part of the GE portfolio Blackstone agreed to acquire earlier this month.”
Oaktree Capital Management and Anglesea Capital paid around £280m for the portfolio in an off-market deal last year.
