Asset manager Blackstone is set to acquire an 80% stake in Burstone's pan-European logistics portfolio in a deal that values the assets at just over €1bn. The transaction is pending regulatory and shareholder approval.

The portfolio, which has been expanding since 2017, comprises 32 high-quality medium and large-capacity logistics properties strategically located near major urban centres in seven European countries, with the largest concentrations in Germany, France and the Netherlands. Covering an area of 1.2 million sqm, it boasts 97% occupancy with over 110 tenants.

This acquisition complements Blackstone's recent investments in European warehousing businesses, including the recapitalisation of Dutch logistics company Mileway. The logistics sector, particularly warehousing, has been resilient in recent years despite the challenges in the commercial real estate market, thanks to the continued growth in demand for e-commerce.