Blackstone has bet £120m on UK logistics as the coronavirus crisis sees online shopping soar.
The private equity firm has agreed to buy the 22-site Cara portfolio from Clearbell Capital for £120m.
The portfolio, totalling more than 2m sq ft, will be folded into Blackstone’s Mileway division, which has around 1,300 logistics properties across Europe, valued at approximately £8bn.
Rob West, partner at Clearbell Capital, said: “This deal demonstrates the resilience of the industrial and logistics sector. Despite uncertainty around Covid-19, we are unlikely to see appetite for warehouses and logistics sites wane in the medium to long term.”
To send feedback, e-mail lucy.alderson@egi.co.uk or tweet @LucyAJourno or @estatesgazette
