According to the report, the deal involves the purchase of assets from Proudreed, one of France’s largest private logistics real estate owners. The portfolio spans 2.3 million square metres of mostly urban warehouses in France’s major cities, as well as land for development.
Both Blackstone and Proudreed declined to comment on the transaction, which has not yet been made public.
Blackstone is one of the world’s largest alternative asset managers, headquartered in New York. Its core businesses include private equity, real estate, credit, and infrastructure. Logistics properties represent Blackstone’s largest property bet in Europe, accounting for more than half of its portfolio on the continent. The asset manager has been investing heavily in warehouses for over a decade, driven by rising online consumption and increasing demand for distribution space.
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