Blackstone, Delin buys logistics portfolio for €250m

The asset managers have joined forces to target prime logistics assets across Germany, Benelux and the UK. 

Blackstone, the New York-based asset manager, and the asset management arm of private equity firm Delin Capital have acquired a portfolio of seven logistics assets in the Netherlands and the UK for a reported €250 million.

The assets total more than 2.4 million square feet of Grade-A logistics space, including a 585,000-square-foot pre-let development in Roosendaal in the Netherlands.

Blackstone and Delin Capital Asset Management said they plan to grow the portfolio through additional logistics investments, where locations are underpinned by a demand/supply imbalance.

“We are delighted to have created this new partnership with an established real estate investor in Blackstone and look forward to growing it over the coming years leveraging our combined experience to identify and acquire new opportunities across our target markets,” said Ekaterina Avdonina, managing director of Delin.

“Occupier demand for high quality and well located warehouse and logistics space continues to gain momentum, underpinned by the structural changes taking place in consumer shopping habits. With the sector having demonstrated ongoing resilience and outperformance, we are confident that underlying market fundamentals are in place to support this new vehicle,” Avdonina added.

Delin appointed Avdonina as managing director last June. She was formerly Delin’s chief investment officer and replaced managing director Christian Jamieson, who left to pursue other interests.