IDI Gazeley has completed the sale of six logistics assets across Italy and Spain to real estate funds managed by Blackstone.
The sale comprises 130,000 m2 in Italy and 70,000 m2 of assets in Spain. The transaction value was not disclosed.
'The sale of these assets to Blackstone is a very positive endorsement of the quality of our assets. The warehouses were all in great locations and occupied by global customers,' commented Pat McGillycuddy, CEO Europe & China, IDI Gazeley.
The six warehouse units, which were all developed by IDI Gazeley, are located across five logistics parks in strategic locations, anchored around the core logistics hubs of Madrid and Milan.
IDI Gazeley were advised by JLL and Herbert Smith Freehills and Blackstone were advised by CBRE and Simpson Thatcher.
