Blackstone Inc. (NYSE:BX) shares are trading slightly lower premarket Tuesday. On Monday, Blackstone affiliates reached a deal to acquire an 80% stake in the Burstone Group’s Pan-European Logistics (PEL) platform, valued at €1.022 billion (R20 billion).
As per the deal, Burstone will retain a 20% co-investment in the PEL platform and will continue to manage the portfolio’s assets.
The portfolio includes 32 mid-sized and large logistics properties situated in key European urban centers across seven countries, predominantly in Germany, France, and the Netherlands.
The portfolio, spanning 1.2 million sqm, is 97% leased to over 110 tenants, mainly in third-party logistics, who benefit from the properties’ strategic locations and excellent transport ...
