Blackstone has launched a new company to house a huge portfolio of last-mile logistics investments across Europe.
The investment giant claims Mileway will be the largest last-mile logistics company in Europe, holding 1,000 or so properties across 100 cities that Blackstone funds have bought over recent years. The portfolio is understood to be valued at some €8bn (£7.1bn).
James Seppala, head of Blackstone Real Estate Europe, described the establishment of the new Amsterdam-based company as “a natural evolution of our European logistics strategy”.
“Mileway will meet growing e-commerce-related demand for last-mile logistics real estate, facilitate faster delivery times and support the growth of small and large businesses,” Seppala added.
Mileway is headed by chief executive Emmanuel Van der Stichele, who earlier in his career ran the €3.5bn Goodman European Logistics Fund, as well as being a member of the real estate private equity group at Credit Suisse.
Van der Stichele’s colleagues include Thomas Ten Bokum, head of investment and portfolio management and former head of European operations at logistics investor Prologis, and chief operating officer Dominiek Van Oost.
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