Blackstone has intensified its bet that demand for warehouse space will persist, with a €21bn recapitalisation of its European logistics business in one of the largest-ever private real estate deals.
The transaction involves a group of new investors buying into the Amsterdam-based platform, named Mileway, while other investors are selling out.
“We were evaluating what the best exit could be in late 2021 — the options included an IPO or a private sale,” said James Seppala, head of real estate in Europe for Blackstone.
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