Gleiss Lutz advises Blackstone on the acquisition of 400,000 sqm of logistics assets in Germany
Blackstone Real Estate Partners Europe IV announces the acquisition of ten assets in Germany for its European logistics company, Logicor from TREI Real Estate, the real estate management and development company of the Tengelmann Group.
The prime warehouse properties are located in core logistics markets close to major urban centres, including Düsseldorf, Munich, Berlin and Frankfurt. The properties are leased to tenants such as Netto Marken-Discount, Kaiser’s Tengelmann, Hellmann Worldwide Logistics and Schenker Deutschland.
This transaction is the sixth portfolio acquired in Germany over the past year and increases Logicor’s overall Germany portfolio to 1 million square metres. Logicor owns now 28 assets across the country leased to a broad mix of retail, third party logistics and manufacturing customers.
This latest transaction follows Logicor’s acquisition of three logistics warehouses totaling 160,000 sqm of space in Cologne and Düsseldorf, announced in January 2015.
The Gleiss Lutz team for Blackstone and Logicor consisted of Dr. Tim Weber (partner, real estate/M&A), Dr. Jan Bauer (partner, corporate/M&A, both Frankfurt, both lead), Jessica Baumann, Dr. Linda Schlegel (real estate), Dr. Maximilian von Mangoldt (corporate/M&A, both Frankfurt), Dr. Fabian Kutz, Dr. Micha Pfarr, Christian Ditté (all real estate, Berlin), Dr. Roland Hartmannsberger (counsel), Dr. Dörte Gauger, Christine Mattes (all public law, Stuttgart), Dr. Burghard Hildebrandt (partner), Dr. Jacob von Andreae (both state aid, Düsseldorf), Dr. Burkhard Jäkel (partner), Vanessa Bayliss (both financing, Frankfurt), Dr. Birgit Colbus (counsel) and Antonia Harbusch (both competition/antitrust, Frankfurt).
Gleiss Lutz also assisted Blackstone and Logicor on the recent acquisition of the three logistics warehouses in Cologne and Düsseldorf.