Logicor, Blackstoneβs European logistics platform, has bought a portfolio of UK industrial assets from Oaktree Capital Management and Anglesea Capital.
Blackstone Real Estate Partners Europe IV said the acquisition of the 6m sq ft portfolio is let to several tenants.
Blackstone said the 16 warehouse properties were in core logistics markets close to major UK urban centres, including Birmingham, Leeds and Oxford.
The transaction takes Logicorβs UK portfolio to 2m square metres.
Mo Barzegar, chief executive and president at Logicor, said the transaction was a βunique opportunity to acquire a substantial, high-quality portfolio in one of Europeβs largest and most important logistics marketsβ.
Barzegar said the deal followed the growth of Blackstoneβs platform in Germany, Portugal, France and Spain, as part of the GE portfolio it .
Blackstoneβs Europe IV fund agreed to pay $1.9bn (β¬1.7bn) for GE Capitalβs European equity real estate assets.
The office, logistics and retail assets are largely in the UK, France and Spain.
The logistics assets will be taken by Blackstoneβs European logistics platform, Logicor, and the retail assets will go to its European retail platform, Multi.
Logicor now owns more than 7.4m sqm in 12 countries.
