{"id":1004118340,"date":"2015-04-28T06:09:13","date_gmt":"2015-04-28T14:09:13","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004118340"},"modified":"2022-12-08T17:17:40","modified_gmt":"2022-12-09T01:17:40","slug":"blackstone-acquires-16-uk-logistics-assets","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/blackstone-acquires-16-uk-logistics-assets\/","title":{"rendered":"Blackstone Acquires 16 UK Logistics Assets"},"content":{"rendered":"

By Keith Loria, Contributing Editor<\/i><\/p>\n

\"Charlie<\/a>

Charlie Howard, Logicor<\/p><\/div>\n

Blackstone Real Estate Partners Europe IV, through its European logistics arm Logicor, has acquired a logistic portfolio consisting of 16 U.K.-based warehouse properties, from a joint venture between funds managed by Oaktree Capital Management, L.P. and Anglesea Capital, for what sources say was $607 million.<\/p>\n

The 16-property portfolio totals 6-million square feet in all, with warehouses located in core logistics markets close to major urban centers across the U.K., including Birmingham, Leeds and Oxford.<\/p>\n

\u201cThis transaction was a unique opportunity to acquire a substantial, high-quality portfolio in one of Europe\u2019s largest and most important logistics markets,\u201d Charlie Howard, Logicor\u2019s managing director, U.K., said in a company release. \u201cThis transaction enhances our relationships with a number of important customers and strengthens our overall position as a leading owner and operator of logistics warehouses.\u201d<\/p>\n

Among the tenants in the 16 properties are Arcadia, B&Q, The Co-Operative, Debenhams and Unipart.<\/p>\n

The deal follows recent Logicor acquisitions in Germany and Portugal, as well as acquisitions in France and Spain as part of the GE portfolio Blackstone agreed to acquire<\/a> earlier this month.\u00a0 Last July, Logicor acquired 18 logistics facilities<\/a> in eight European countries in a $375 million deal. Overall, the company now owns 21 million square feet of logistics space in London.<\/p>\n

A recent report from Deutsche Asset Wealth Management predicted logistics properties would be the top-performing real-estate sector in Europe over the next five years, following a 2014 that saw nearly $27 billion in European industrial properties.<\/p>\n

\u201cWe still expect logistics to be the best performing sector over the next five years, boosted by income returns of 150 to 200 basis points higher than the other sectors,\u201d the report said. \u201cThe average spread between logistics yields and high street retail yields, for example, fell to around 180 basis points in 2007 but has since risen to over 250 basis points. This is mostly justified by much weaker rental growth prospects in the logistics sector, but this additional spread allows for greater potential for yield compression, while serving as a buffer to absorb more of the expected future bond rate rise.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"

Blackstone has strengthened its overall position as a leading owner and operator of logistics warehouses.<\/p>\n","protected":false},"author":451,"featured_media":1004118343,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21748,16,21783,21742],"tags":[],"class_list":["post-1004118340","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-industrial","category-international","category-investment","category-latest"],"acf":[],"yoast_head":"\nBlackstone Acquires 16 UK Logistics Assets - 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\/blackstone-acquires-16-uk-logistics-assets\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Blackstone Acquires 16 UK Logistics Assets\" \/>\n<meta property=\"og:description\" content=\"Blackstone has strengthened its overall position as a leading owner and operator of logistics warehouses.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/blackstone-acquires-16-uk-logistics-assets\/\" \/>\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=\"2015-04-28T14:09:13+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-09T01:17:40+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/04\/charlie-howard.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"193\" \/>\n\t<meta property=\"og:image:height\" content=\"223\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Keith Loria\" \/>\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\/blackstone-acquires-16-uk-logistics-assets\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/blackstone-acquires-16-uk-logistics-assets\/\",\"name\":\"Blackstone Acquires 16 UK Logistics Assets - 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