Blackstone has bought a portfolio of industrial assets in the Netherlands for about €130m (£113m) from HIG Capital, just days after buying €1.3bn of assets in Hansteen’s European portfolio.
The HIG portfolio of 26 assets is the latest in a series of deals Blackstone has done to establish a significant footprint in the European industrial market.
The company teamed up with fund manager M7 in January to establish a substantial platform on the Continent. It bought €112m of French assets from a joint venture M7 had previously managed for Starwood Capital before its deal with Hansteen.
Sanjoy Chattopadhyay, principal at HIG Realty Partners in London, said: “HIG purchased undermanaged assets, and through a series of targeted asset management initiatives and an aggregation strategy, we have built a high-quality portfolio with critical mass, which was successfully sold to a strategic buyer.”
Blackstone is currently investing funds in Europe from its $15.8bn Blackstone Real Estate Partners VIII fund, the largest-ever global real estate fund, raised in 2015, and its Blackstone Real Estate Partners Europe V, which held €5.5bn first close last June.
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