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Blackstone buys French logistics portfolio for €260M

Patrizia AG sold a 10-property portfolio of logistics assets encompassing more than 362,721 square meters in France in an off-market transaction to real estate funds managed by private equity giant Blackstone Group Inc. for 260 million.

Patrizia, which completed the sale on behalf of TransEuropean Property LP VI, said the portfolio is fully leased to Kuehne and Nagel, Geodis, Rhenus, Honeywell and Amazon, among other tenants.

Blackstone tapped Patrizia to continue to manage the portfolio on its behalf.