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Logicor, Blackstone’s European logistics real estate company, carried out investments totalling €2 bn during 2014, the company confirmed on the first day of MIPIM in Cannes.

Following rapid growth in its portfolio, Logicor is now the second-largest owner and operator of logistics property in Europe.

Logicor’s property portfolio currently totals over 6.7 million m2 compared to 3 million m2 at the beginning of 2014.

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Logicor acquired 111 warehouse assets through 12 portfolio acquisitions totalling €2 bn in 2014. The deals allowed Logicor to expand into six new markets including Germany, Spain, Portugal and Italy. The investor also opened new offices in Warsaw, Frankfurt and Madrid and recruited 34 additional staff.

Mo Barzegar, Logicor CEO & president, commented: '2014 was an exceptional year for us as we more than doubled the size of our portfolio and entered Germany, Italy and Portugal. We continued to execute on our stated strategy of acquiring modern, functional logistics assets in supply-constrained locations in proximity to major transportation networks and population centres.

'We remain very positive about the outlook for Logicor’s continued growth in 2015 and about the future of Logicor as a dominant Pan-European owner and operator of modern logistics facilities.'