LogiCor is still on the acquisition trial after spending more than €1bn on logistics deals in the first half of the year, the company's CEO Mo Barzegar told PropertyEU in an interview.

LogiCor is still on the acquisition trial after spending more than €1bn on logistics deals in the first half of the year, the company's CEO Mo Barzegar told PropertyEU in an interview.

‘We are likely to acquire more assets in our existing markets – including Spain, Italy, the Netherlands, Poland, Czech Republic, the UK, Germany and France,’ he said.

‘It’s also conceivable that if and when we buy another larger pan-European portfolio, we will end up with an asset or two in "new" European markets as part of the overall deal. Pan-European portfolios are more efficient in terms of deploying capital but we will also start investing in small-to-medium deals of around €30 mln to €40 mln,’ he added.

Earlier this month, the European logistics platform of US giant Blackstone acquired six properties from Pramerica Real Estate Investors in the CEE region for around £120 mln (€150 mln). The 200,000 m2 portfolio – in Poland and the Czech Republic - includes Panattoni Parks at Prague Airport, as well as in CzeladŸ, Krakow, and Gliwice. Tenants include Amazon and UPS.

LogiCorhas already invested more than €1bn in six European logistics deals in the first half of the year, double what it invested last year. The Pramerica deal came just days after LogiCor’s acquisition of SEB Asset Management’s entire logistics portfolio, comprising 18 assets, for €275 mln. The ‘Curve’ portfolio, as it is known, totals 434,300 m2 across eight countries, including Spain, Germany, the UK, France and the Netherlands. The average economic occupancy rate is around 85%, with an average remaining lease term of 3.8 years. Transfer of ownership is expected to be completed in the second half of 2014.