trending Market Intelligence /marketintelligence/en/news-insights/trending/lGLTWNFNgYebtOhY0dzwMA2 content esgSubNav
In This List

Report: Blackstone nears deal to acquire Goodman's European industrial portfolio

Blog

Using ESG Analysis to Support a Sustainable Future

Podcast

Street Talk Episode 87

Blog

A New Dawn for European Bank M&A Top 5 Trends

Blog

Insight Weekly: US banks' loan growth; record share buybacks; utility M&A outlook


Report: Blackstone nears deal to acquire Goodman's European industrial portfolio

Blackstone Group LP is nearing a deal with Goodman Group to acquire the latter's industrial property portfolio in Europe, IPE Real Assets reported, citing unnamed sources.

The parties are in late stage of negotiations and a deal could be finalized early in 2018, the sources told the publication.

With a total of A$4.6 billion of assets under management as of Sept. 30, Goodman is the single largest owner and developer of logistics properties in Europe, IPE noted.

The rumored talks come as Blackstone actively looks for logistics assets in the region. The private equity giant's European real estate fund was reported earlier in December to be buying back a stake in Logicor, its former pan-European logistics platform that it recently sold to China Investment Corp.

Blackstone has also been expanding its asset holdings in Australia through multiple transactions, most recently its A$400 million deal to acquire about six industrial and logistics properties from Goodman. However, it is also divesting 10 logistics properties in Australia, and prospective buyer Singaporean fund manager ARA Asset Management Ltd. was recently reported to be conducting due diligence on the portfolio with a price tag of roughly A$200 million.

Neither Blackstone nor Goodman commented on the potential European portfolio deal, according to IPE.