Blackstone, the American multinational, announced the acquisition of an 80% stake in a portfolio of European logistics platforms managed by Burstone Group under the name Pan-European Logistics. The transaction values the real estate portfolio at over one billion euros. Burstone Group will retain a 20% stake and continue to manage the properties.
The portfolio, formerly known as Investec Property Fund, consists of 32 properties, covering approximately 1.2 million square meters of logistics space, primarily located in Germany, France, and the Netherlands. Burstone and Blackstone plan to expand the Pan-European Logistics portfolio, focusing on aggregating industrial and logistics properties in key European markets.
Blackstone, already heavily invested in the logistics sector, revealed that logistics platforms currently account for 40% of its global real estate portfolio and about 60% of its real estate operations in Europe. This transaction further underscores the growing importance of logistics for the company, in a context marked by increasing consumer digitalization and the rising demand for spaces to manage supply chains.
Burstone Group, formerly known as Investec Property Fund, was listed on the Johannesburg Stock Exchange (South Africa) in 2011. The company specializes in owning and managing commercial, industrial, and logistics properties across multiple countries. In addition to the Pan-European Logistics portfolio, Burstone owns a real estate portfolio in South Africa valued at approximately 14.2 billion rand (about 715.5 million euros). In 2023, the group completed the internalization of its management operations in South Africa and Europe, and rebranded itself as Burstone Group.
