Ares buys French logistics portfolio from Blackstone
A fund managed by alternative investment manager Ares Management Corporation has acquired a portfolio of industrial assets on France’s main logistics corridor from funds managed by Blackstone.
The portfolio comprises nine assets totalling about 360,000 sq m of space in locations which include Paris, Lyon and Marseille, on France’s Dorsal Axis, which links key urban areas and connects northern and southern Europe.
The portfolio is fully leased to a diversified set of national and international blue-chip tenants. Additionally, the properties reflect grade A specifications and a high standard of requirements for modern tenants.
“The French logistics market continues to demonstrate strong fundamentals and limited supply of prime assets in key locations,” said Ares Real Estate’s co-head of European real estate Wilson Lamont. “This transaction highlights our continued conviction in the logistics sector and serves as an example of our selectivity and ability to swiftly execute on attractive opportunities in today’s market.”
New York-quoted Ares Real Estate owns and operates industrial real estate throughout the US and Europe. Since 2020, company has expanded its industrial floorspace in Europe to approximately 4 million sq m in 12 countries including the latest transaction.
Ares Management was advised by BNP France. Blackstone was advised by JLL and Eastdil.
