BPPEH Acquires Pan-European Logistics Portfolio
BPPEH has acquired a portfolio of 23 logistics properties in the U.K., the Netherlands and Germany for a purchase price of £380 million. The acquisition is consistent with BPPEH’s focus on acquiring high-quality logistics properties in key European distribution hubs.
The portfolio is comprised of Grade-A warehouses totalling 2.7 million square feet and is well-located across key distribution markets with 83% of value concentrated in last-mile locations. The portfolio is currently 100% leased on a 6-year average lease term (to break) to a diversified mix of established logistics and e-commerce businesses.
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.