Blackstone will buy the logistics real estate portfolio of Immofinanz

The Austrian Immofinanz has signed a contract with Blackstone for the sale of its entire logistics portfolio.

The transaction covers all 36 logistics standing investments with approx. one million square meters of rentable space, which are located for the most part in Germany (24 properties) as well as in Hungary (5), Romania (3), Poland (2), Slovakia (1) and Russia (1). Blackstone will also purchase three development projects with approximately 65,000 square meters currently under construction in Hamburg (DE), Bucharest and Ploiesti (RO), which will be completed by Immofinanz, as well as land reserves. Blackstone will integrate all the assets into Logicor, its European logistics platform. (MTI)