Blackstone buys M7 for €125 million
Within the space of one month, the US asset management company Blackstone has bought two logistics portfolios with 15 properties in a total investment of over €330 million.
In an interview with Negócios, Blackstone says there is “strong demand for distribution warehouses in Portugal”.
Blackstone has purchased M7 Real Estate, a portfolio of 15 logistics facilities in a deal that was completed for €125 million, according to EU Property.
M7 is a leading specialist real estate and asset manager in the commercial and multi-tenant real estate market at a pan-European and regional level.
In May, the US asset manager bought the GNB real estate fund from Novobanco for €208 million which had a portfolio of 20 properties, some of them logistics. The acquisition of these two current portfolios exceeded €330 million.
James Seppala director of European Real Estate (Blackstone) said that the investments are “an excellent opportunity” to expand “our logistics portfolio in Portugal”, where there continues to be a strong demand for distribution centres.”