Blackstone €350M logistics investment

Blackstone invested €350 million in logistics in the Portuguese market last year after acquiring a portfolio of 20 assets in May from the fund GNB Real Estate from Novo Banco, for €208 million.

In June Blackstone had acquired a portfolio of 15 properties from M7 Real Estate for €125 million, all in the logistics area.
In total, the investment was around €25 million according to Negócios who got the information from an official source at M7.
One of the operations involved the Blackstone fund buying two assets in Folgosa for €8 million in the district of Armamar.
In a separate acquisition, the US asset management fund bought a warehouse near Matosinhos from the Danish transport and logistics company DSV for €8 million.
Last, Blackstone bought two warehouse parks from Interfundo, which manages the funds of BCP bank, situated in Caregado and Montijo for around €9 million.
Blackstone has invested more than €350 million in logistics in Portugal over the past year, having acquired 20 assets from the fund GNB Real Estate which belongs to Novo Banco for €208 million in June, a portfolio of 15 properties from M7 Real Estate for €125 million.
Blackstone is the world’s largest alternative asset manager, serving institutional and individual investors.

Photo: Hans Egler, Unsplash.