Blackstone acquires EUR 400 million logistics portfolio in Sweden

Blackstone subsidiary Onyx Sweden Holdco S.a.r.l. has acquired a portfolio of properties from listed Swedish company Corem Property Group for a total value of SEK 4.2 billion (EUR 397 million). The portfolio entails 30 properties, mostly warehouse and logistics, on 13 different locations in Sweden, including Uppsala, Helsingborg and Halmstad.

The total leasable floor area is 500,000 sq.m., the annual rental income amounts to SEK 309 million and the vacancy rate is 12 per cent.

Transfer of ownership is scheduled to take place on July 5th and the transaction is contingent upon an approval from the Swedish Competition Authority.

Blackstone was advised by Cushman & Wakefield in the transaction.

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