Logicor, the European logistics business of global asset manager Blackstone, has appointed Buddy Roes as managing director for Germany.
Roes has 14 years’ of European logistics real estate experience in asset and fund management as well as acquisitions and disposals. He joins from Exeter Property Group where he was a principal responsible for logistics real estate investment in Germany and the Benelux.
Prior to joining Exeter Property Group in 2014, he spent 12 years at Schroders Investment Management, where he was head of logistics fund management in Germany, and ING Real Estate Investment Management, where he was responsible for the acquisition and operation of €2.4 billion of logistics real estate across eight European markets.
Logicor chief executive officer and president Mo Barzegar confirmed the appointment of Roes, who he said would enhance the firm’s current leadership but also support its growth strategy in Germany.
“This key hire is a continuation of our commitment to building a premier management team at Logicor,” Barzegar said. “Buddy is an experienced logistics real estate professional with deep expertise in real estate operations, acquisitions and portfolio management in Germany as well as across Europe.”
“Under his leadership, our German team will continue to enhance and drive additional value from our substantial German portfolio,” he added.
Logicor manages a portfolio of logistics warehouses across Germany, totalling more than 10 million square feet, including in prime areas such the Rhine-Main region, Dusseldorf and Cologne.
In May, Blackstone was reported to be considering selling Logicor in a transaction that potentially valued the platform, including debt, at €11 billion. One option at Blackstone’s disposal was to proceed with an initial public offering and seek an equity valuation of €5.5 billion, making it one of the largest offerings in European real estate. However, two months after the initial reported sale, no further progress has been announced or reported.