US company Blackstone has agreed to acquire a majority stake in a portfolio of 10 logistics parks of CT Real Estate with TPG Real Estate. This results in one of the largest real estate transactions in Europe this year.

Blackstone is the largest alternative investment firm with $42 billion under management. With this and previous investments in warehouses across Europe Blackstone expanded its logistics portfolio by $3 billion this year to a total of 10 billion dollars.

Warehouses in Ostrava, Hustopece, Ricany and other cities at important highway junctions with a total area of 500 thousand sqm will continue to be managed by Czech company Contera, which will retain a minority stake in the portfolio. The merger is being assessed by the Office for the Protection of Competition who will issue a decision in a simplified procedure within 20 days.