BPPEH Acquires French and German Logistics Portfolio
BPPEH has completed the acquisition of 28 logistics properties in France and Germany for a gross purchase price of €271 million. Closings occurred in phases during September and October 2020.
The portfolio is comprised of Grade-A last mile warehouses totalling 202,000 square meters, concentrated in prime infill locations within Paris and Lyon in France and the Rhine-Ruhr region, Berlin and Frankfurt in Germany. The portfolio is currently 98% leased on a 4-year average lease term (to break) to a diversified tenant roster comprising third party logistics companies and international corporations.
Blackstone Property Partners Europe Holdings S.à r.l. (“BPPEH”) invests in high-quality, substantially stabilised real estate assets across Europe. Investments are concentrated in the logistics, residential and office sectors, with a focus on major European markets and key gateway cities. BPPEH is 100% owned by Blackstone Property Partners Europe.