Sale of ISE Pan-European Logistics Portfolio

MARCOL’s Industrial Securities Europe (ISE) division has concluded a sale of a Pan-European Logistics Portfolio to Blackstone’s real estate fund.

The European Logistics Portfolio was developed between 2006 – 2016 and comprises a mix of warehouse and urban logistics assets, mainly located in the logistics corridor in France and in established locations in Greater Paris, Germany and Benelux. The portfolio offers ca. 660,000 sqm of lettable space with more than 400 tenants. The total consideration was in the region of €500 million.

Stephen Lawrence, managing director and part owner, together with Nigel Lax, fellow director and shareholder, said “Our ISE team have concluded this transaction in record time as the transaction was a complex cross border deal comprising 93 different assets in 4 different countries”.

ISE have agreed to continue to asset manage the portfolio on behalf of Blackstone with plans to acquire selective assets in Europe to further build the portfolio.

Eastdil Secured acted as Sales Agent on the transaction, Skadden Arps as Counsel for Sellers and Kirkland & Ellis International and CBRE advised Blackstone. KL Gates & Nauta Dutilh advised Marathon who held the debt in the portfolio.

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