{"id":1004100262,"date":"2014-07-10T06:56:02","date_gmt":"2014-07-10T14:56:02","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004100262"},"modified":"2021-05-14T16:28:54","modified_gmt":"2021-05-15T00:28:54","slug":"international-blackstones-logicor-to-acquire-18-logistics-properties-in-europe-for-375m","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/international-blackstones-logicor-to-acquire-18-logistics-properties-in-europe-for-375m\/","title":{"rendered":"INTERNATIONAL: Blackstone\u2019s LogiCor to Acquire 18 Logistics Properties in Europe for $375M"},"content":{"rendered":"<p><i>By Adriana Pop, Associate Editor<\/i><\/p>\n<p><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2014\/07\/Logistic-facility-in-Poland.png\"><img decoding=\"async\" data-attachment-id=\"1004100537\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/international-blackstones-logicor-to-acquire-18-logistics-properties-in-europe-for-375m\/logistic-facility-in-poland\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2014\/07\/Logistic-facility-in-Poland.png\" data-orig-size=\"664,494\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;}\" data-image-title=\"Logistic facility in Poland\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2014\/07\/Logistic-facility-in-Poland.png?w=664\" loading=\"lazy\" class=\"alignleft size-medium wp-image-1004100537\" alt=\"Logistic facility in Poland\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2014\/07\/Logistic-facility-in-Poland.png\" width=\"300\" height=\"223\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2014\/07\/Logistic-facility-in-Poland.png 664w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2014\/07\/Logistic-facility-in-Poland.png?resize=300,223 300w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><\/p>\n<p>&nbsp;<\/p>\n<p>In an approximately $375 million deal, Blackstone\u2019s industrial arm LogiCor has agreed to expand its portfolio with the acquisition of 18 logistics facilities in eight European countries.<\/p>\n<p>SEB Asset Management is exiting the logistics market with the sale of these properties, which offer more than 4.6 million square feet of rental space, with an average occupancy rate of about 85 percent and a remaining lease term of 3.8 years.<\/p>\n<p>SEB Asset Management used a structured bidding process to sell the assets, which allows the company to exploit the market trend and dispose of its entire logistics portfolio at an attractive price. The transaction is expected to close in the second half of 2014.<\/p>\n<p>\u2018\u2018Given the current demand situation, we decided to strategically exit the logistics market and have achieved a highly satisfactory result for our investors\u2019\u2019, Barbara Knoflach, CEO of SEB Asset Management AG and Managing Director of SEB Investment GmbH, said in a news release. \u2018\u2018We were able to successfully complete the marketing of this regionally highly diversified portfolio within only three months thanks to our close-knit market network and the buyer\u2019s confidence in our real estate expertise and our execution ability.\u2019\u2019<\/p>\n<p>Located in key European regions, the 18 assets are included in four different portfolios. Three properties worth more than $50 million are from the open-ended real estate fund SEB ImmoInvest; 10 properties worth nearly $230 million are from SEB ImmoPortfolio Target Return Fund; four properties worth more than 84.5 million are from SEB Global Property Fund, while another logistics building is from a special fund.<\/p>\n<p>The purchase agreement is in line with LogiCor\u2019s rapid expansion strategy in Europe. In February, the company <a href=\"https:\/\/www.commercialsearch.com\/news\/regions\/international\/blackstones-logicor-expands-european-portfolio-with-4-3-msf-in-poland\/1004066686.html\"><i>acquired two logistics portfolios in Poland <\/i><\/a>totaling 4.3 million square feet from Panattoni Europe.<\/p>\n<p>Later in June, LogiCor paid more than $161 million for <a href=\"https:\/\/www.cushmanwakefield.fr\/en-gb\/news\/2014\/06\/standard-life-investments-in-poland\/\" rel=\"nofollow\"><i>the acquisition of an additional seven Polish logistics assets <\/i><\/a>from U.K.-based Standard Life Investments\u2018 Select Property Fund.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>In an approximately $375 million deal, Blackstone\u2019s industrial arm LogiCor has agreed to expand its portfolio with the acquisition of 18 logistics facilities in eight European countries. <\/p>\n","protected":false},"author":260,"featured_media":1004100537,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21808,21748,16,21783,21742],"tags":[],"class_list":["post-1004100262","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-featured","category-industrial","category-international","category-investment","category-latest"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>INTERNATIONAL: Blackstone\u2019s LogiCor to Acquire 18 Logistics Properties in Europe for $375M - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/international-blackstones-logicor-to-acquire-18-logistics-properties-in-europe-for-375m\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"INTERNATIONAL: Blackstone\u2019s LogiCor to Acquire 18 Logistics Properties in Europe for $375M\" \/>\n<meta property=\"og:description\" content=\"In an approximately $375 million deal, Blackstone\u2019s industrial arm LogiCor has agreed to expand its portfolio with the acquisition of 18 logistics facilities in eight European countries.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/international-blackstones-logicor-to-acquire-18-logistics-properties-in-europe-for-375m\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2014-07-10T14:56:02+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2021-05-15T00:28:54+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2014\/07\/Logistic-facility-in-Poland.png\" \/>\n\t<meta property=\"og:image:width\" content=\"664\" \/>\n\t<meta property=\"og:image:height\" content=\"494\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Adriana Pop\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/international-blackstones-logicor-to-acquire-18-logistics-properties-in-europe-for-375m\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/international-blackstones-logicor-to-acquire-18-logistics-properties-in-europe-for-375m\/\",\"name\":\"INTERNATIONAL: Blackstone\u2019s LogiCor to Acquire 18 Logistics Properties in Europe for $375M - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/international-blackstones-logicor-to-acquire-18-logistics-properties-in-europe-for-375m\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/international-blackstones-logicor-to-acquire-18-logistics-properties-in-europe-for-375m\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2014\/07\/Logistic-facility-in-Poland.png\",\"datePublished\":\"2014-07-10T14:56:02+00:00\",\"dateModified\":\"2021-05-15T00:28:54+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/c6fbe4a6cd09e6097b39e787ae96d7ad\"},\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/international-blackstones-logicor-to-acquire-18-logistics-properties-in-europe-for-375m\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/international-blackstones-logicor-to-acquire-18-logistics-properties-in-europe-for-375m\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/international-blackstones-logicor-to-acquire-18-logistics-properties-in-europe-for-375m\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2014\/07\/Logistic-facility-in-Poland.png\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2014\/07\/Logistic-facility-in-Poland.png\",\"width\":664,\"height\":494},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/international-blackstones-logicor-to-acquire-18-logistics-properties-in-europe-for-375m\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.commercialsearch.com\/news\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"INTERNATIONAL: Blackstone\u2019s LogiCor to Acquire 18 Logistics Properties in Europe for $375M\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/\",\"name\":\"Commercial Property Executive\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.commercialsearch.com\/news\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/c6fbe4a6cd09e6097b39e787ae96d7ad\",\"name\":\"Adriana Pop\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/04\/Adriana.jpg?w=91\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/04\/Adriana.jpg?w=91\",\"caption\":\"Adriana Pop\"},\"description\":\"Adriana Pop is a senior editor with Commercial Property Executive and Multi-Housing News. She joined CPE and MHN in 2012, with an academic background in economics, English and Italian. She currently curates the CPE Sneak Peek newsletter, highlighting noteworthy stories and emerging topics for readers. Connect with her at adriana.pop@cpe-mhn.com or on LinkedIn: https:\/\/www.linkedin.com\/in\/ioana-adriana-pop-811772108\/.\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/author\/adriana-pop\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"INTERNATIONAL: Blackstone\u2019s LogiCor to Acquire 18 Logistics Properties in Europe for $375M - Commercial Property Executive","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.commercialsearch.com\/news\/international-blackstones-logicor-to-acquire-18-logistics-properties-in-europe-for-375m\/","og_locale":"en_US","og_type":"article","og_title":"INTERNATIONAL: Blackstone\u2019s LogiCor to Acquire 18 Logistics Properties in Europe for $375M","og_description":"In an approximately $375 million deal, Blackstone\u2019s industrial arm LogiCor has agreed to expand its portfolio with the acquisition of 18 logistics facilities in eight European countries.","og_url":"https:\/\/www.commercialsearch.com\/news\/international-blackstones-logicor-to-acquire-18-logistics-properties-in-europe-for-375m\/","og_site_name":"Commercial Property Executive","article_publisher":"https:\/\/www.facebook.com\/CPExecutive","article_published_time":"2014-07-10T14:56:02+00:00","article_modified_time":"2021-05-15T00:28:54+00:00","og_image":[{"width":664,"height":494,"url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2014\/07\/Logistic-facility-in-Poland.png","type":"image\/png"}],"author":"Adriana Pop","twitter_card":"summary_large_image","twitter_creator":"@cpexecutive","twitter_site":"@cpexecutive","schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.commercialsearch.com\/news\/international-blackstones-logicor-to-acquire-18-logistics-properties-in-europe-for-375m\/","url":"https:\/\/www.commercialsearch.com\/news\/international-blackstones-logicor-to-acquire-18-logistics-properties-in-europe-for-375m\/","name":"INTERNATIONAL: Blackstone\u2019s LogiCor to Acquire 18 Logistics Properties in Europe for $375M - Commercial Property Executive","isPartOf":{"@id":"https:\/\/www.commercialsearch.com\/news\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.commercialsearch.com\/news\/international-blackstones-logicor-to-acquire-18-logistics-properties-in-europe-for-375m\/#primaryimage"},"image":{"@id":"https:\/\/www.commercialsearch.com\/news\/international-blackstones-logicor-to-acquire-18-logistics-properties-in-europe-for-375m\/#primaryimage"},"thumbnailUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2014\/07\/Logistic-facility-in-Poland.png","datePublished":"2014-07-10T14:56:02+00:00","dateModified":"2021-05-15T00:28:54+00:00","author":{"@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/c6fbe4a6cd09e6097b39e787ae96d7ad"},"breadcrumb":{"@id":"https:\/\/www.commercialsearch.com\/news\/international-blackstones-logicor-to-acquire-18-logistics-properties-in-europe-for-375m\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.commercialsearch.com\/news\/international-blackstones-logicor-to-acquire-18-logistics-properties-in-europe-for-375m\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.commercialsearch.com\/news\/international-blackstones-logicor-to-acquire-18-logistics-properties-in-europe-for-375m\/#primaryimage","url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2014\/07\/Logistic-facility-in-Poland.png","contentUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2014\/07\/Logistic-facility-in-Poland.png","width":664,"height":494},{"@type":"BreadcrumbList","@id":"https:\/\/www.commercialsearch.com\/news\/international-blackstones-logicor-to-acquire-18-logistics-properties-in-europe-for-375m\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.commercialsearch.com\/news\/"},{"@type":"ListItem","position":2,"name":"INTERNATIONAL: Blackstone\u2019s LogiCor to Acquire 18 Logistics Properties in Europe for $375M"}]},{"@type":"WebSite","@id":"https:\/\/www.commercialsearch.com\/news\/#website","url":"https:\/\/www.commercialsearch.com\/news\/","name":"Commercial Property Executive","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.commercialsearch.com\/news\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/c6fbe4a6cd09e6097b39e787ae96d7ad","name":"Adriana Pop","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/image\/","url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/04\/Adriana.jpg?w=91","contentUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/04\/Adriana.jpg?w=91","caption":"Adriana Pop"},"description":"Adriana Pop is a senior editor with Commercial Property Executive and Multi-Housing News. She joined CPE and MHN in 2012, with an academic background in economics, English and Italian. She currently curates the CPE Sneak Peek newsletter, highlighting noteworthy stories and emerging topics for readers. Connect with her at adriana.pop@cpe-mhn.com or on LinkedIn: https:\/\/www.linkedin.com\/in\/ioana-adriana-pop-811772108\/.","url":"https:\/\/www.commercialsearch.com\/news\/author\/adriana-pop\/"}]}},"jetpack_featured_media_url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2014\/07\/Logistic-facility-in-Poland.png","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004100262","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/users\/260"}],"replies":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/comments?post=1004100262"}],"version-history":[{"count":2,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004100262\/revisions"}],"predecessor-version":[{"id":1004531142,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004100262\/revisions\/1004531142"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media\/1004100537"}],"wp:attachment":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media?parent=1004100262"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/categories?post=1004100262"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/tags?post=1004100262"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}