BPPEH to Acquire French Logistics Portfolio
BPPEH has signed definitive agreements to acquire 21 logistics assets in France for €606 million. The acquisitions are consistent with BPPEH’s focus on acquiring high-quality logistics assets in key European distribution corridors.
The portfolio is comprised of Grade-A warehouses totalling 831,000 square meters and is concentrated in France’s major distribution markets, including Paris, Lyon, Lille, and Marseille. The portfolio is currently 91% leased on a 3.4-year lease term (to break) to a diversified tenant roster comprising international corporations and third party logistics companies. Closings are expected between September and October 2019.
About BPPEH
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.