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Blackstone Eyes Logicor Sale: Reports

LONDON—Although the asset management giant hasn’t yet decided on a sale of Logicor or an IPO for the platform, demand for European industrial properties is on the rise.

An industrial property in Sherburn-in-Elmet, the UK A Logicor property in Sherburn-in-Elmet, the UK, recently leased to L&G homes

LONDON—The Blackstone Group reportedly is considering a sale of Logicor, its European industrial property arm headquartered here. Citing sources said to be familiar with the matter, Bloomberg Business and PERE reported Thursday that the asset management giant is exploring either a sale, which would value Logicor at about US$11 billion, or an initial public offering.

Two years after forming Logicor, Blackstone in late 2014 agreed to sell its US industrial platform, IndCor, for US$8.1 billion to a partnership of Global Logistics Properties and GIC Pte. Ltd., Singapore’s sovereign wealth fund. The deal closed in early 2015 and replaced a planned IPO for the IndCor unit.

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Paul Bubny

Paul Bubny

Paul Bubny is managing editor of Real Estate Forum and GlobeSt.com. He has been reporting on business since 1988 and on commercial real estate since 2007. He is based at ALM Real Estate Media Group's offices in New York City.

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