Blackstone and Delin Capital Asset Management establish prime logistics partnership
Delin Capital Asset Management (“DCAM”), a leading pan-European logistics real estate owner, investor and developer and Blackstone’s Core + platform have established a partnership to acquire prime logistics assets in Germany, Benelux and the UK. DCAM has contributed an initial seven asset portfolio of UK and Dutch assets to the venture comprising over 230,000 sqm of leased Grade-A logistics space, including a 58,400 sqm pre-let development in Roosendaal in the Netherlands. DCAM will be asset manager to the partnership.
DCAM and Blackstone plan to grow the portfolio through additional investment in logistics assets where locations are underpinned by a demand/supply imbalance.
Ekaterina Avdonina, Managing Director of DCAM, commented: “We are delighted to have created this new partnership with an established real estate investor in Blackstone and look forward to growing it over the coming years leveraging our combined experience to identify and acquire new opportunities across our target markets.”
“Occupier demand for high quality and well located warehouse and logistics space continues to gain momentum, underpinned by the structural changes taking place in consumer shopping habits. With the sector having demonstrated ongoing resilience and outperformance, we are confident that underlying market fundamentals are in place to support this new vehicle.”
DCAM was advised by JLL and Blackstone was advised by CBRE.