Blackstone in talks to buy €300m Spanish logistics package

US asset management giant Blackstone is believed to be negotiating the acquisition of a logistics portfolio in Spain in a deal valued at just under €300 mln.

According to well-informed market sources, the New York-based group is buying the assets in a share deal from a joint venture of Neinver and Colony Capital.

Colver, the company owning the properties, currently has a portfolio consisting of 37 properties covering 261,000 m2 of logistics space across the country.

A Blackstone spokesperson declined to comment.

Neinver joined forces with Colony Capital in 2015 to invest in the Spanish logistics property market. The largest purchase was carried out in 2016 with the acquisition of a portfolio of 23 logistics assets in Spain from Zaphir Logistics Properties for €87 mln.

The 151,500 m2 portfolio included assets in 19 areas of Spain, with Madrid and Barcelona representing around 50% of the package in terms of square meters.


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