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Panattoni Europe Sells Polish Logistics Assets To Affiliates Of LogiCor, A Logistics Company Established By Blackstone’s Real Estate Funds

Ken Caplan, head of Real Estate for Blackstone in Europe, said: “ With the addition of these two portfolios, we are further building on our strategy of acquiring high-quality, well-located logistics properties in Europe, through the LogiCor platform. These assets complement our other logistics properties across Europe in terms of their tenant quality, efficient design, and excellent locations. We look forward to continuing to growing and developing this important asset class in our overall European real estate portfolio.”

Mo Barzegar, President and CEO of LogiCor Europe Ltd, remarked: “ We are pleased to have been able to expand the reach of LogiCor into Poland, where the market for modern, efficient industrial properties continues to strengthen. We look forward to working with our tenants to support their growing needs for high-quality logistics and light industrial real estate.”

About Panattoni Europe

Panattoni Europe is part of the Panattoni Development Company, one of the largest industrial developers in the world, with 40 offices in North America and Europe. Panattoni Europe has been present in the CEE region since 2005. To date, the developer has delivered more than 1.82 million sqm of modern industrial space altogether in Poland and the Czech Republic. A dedicated department responding to individual tenants’ needs - build-to-suit projects - is located within the Panattoni Europe structure. Among key tenants are companies such as arvato services Polska, Coty Cosmetics, DSV, H&M, Intermarché, Leroy Merlin, ND Logistics, Still, Schenker and Tesco. Apart from Poland, Panattoni Europe has offices in the United Kingdom, the Czech Republic, France, Italy, Spain, Luxembourg and Germany. www.panattoni.pl

About Pramerica Real Estate Investors

Pramerica Real Estate Investors is a leader in the global real estate investment management business, offering a broad range of investment vehicles that invest in private and public market opportunities in the United States, Europe, the Middle East, Asia, Australia and Latin America. Headquartered in Madison, New Jersey, Pramerica has other offices in Atlanta, Chicago, New York, San Francisco, Miami, London, Lisbon Luxembourg, Munich, Paris, Istanbul, Abu Dhabi, Mexico City, Sao Paulo, Beijing, Hong Kong, Seoul, Singapore and Tokyo. In addition, Pramerica has representatives in Milan and is establishing a presence in Sydney (pending regulatory approval). As of September 30, 2012, Pramerica managed approximately $51.2 billion in gross real estate assets ($34.6 billion net) on behalf of more than 490 clients worldwide. For more information, visit http://www.pramericarei.com.

About Blackstone

Blackstone is one of the world’s leading investment and advisory firms. We seek to create positive economic impact and long-term value for our investors, the companies we invest in, the companies we advise and the broader global economy. We do this through the commitment of our extraordinary people and flexible capital. Our alternative asset management businesses include the management of private equity funds, real estate funds, hedge fund solutions, credit-oriented funds and closed-end mutual funds. Blackstone also provides various financial advisory services, including financial and strategic advisory, restructuring and reorganization advisory and fund placement services. Further information is available at www.blackstone.com. Follow us on Twitter @Blackstone.

About Pekao

Bank Pekao, member of UniCredit Group, is the biggest corporate bank in Poland, with the largest scope of services for corporates. One of Europe's banks with the highest capitalisation ratio. Bank Pekao is an active lender in the commercial and residential real estate, which never stopped lending to this sector, ready to finance development and acquisition projects which create an added value for the Polish economy. The Bank was honored with the Eurobuild Award for Financial Provider of the Year in Poland 2011 and 2012.

Stock quotes in this article: BX 

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