Gazeley sells 2.2m sq ft of logistics assets in Italy and Spain to Blackstone
2nd November 2016
2 November 2016 – Gazeley, a leading global investor and developer of logistics warehouses and distribution parks, today announces that it has completed the sale of six logistics assets across Italy and Spain to Blackstone. The sale comprises of 1,400,000 sq ft in Italy and 755,000 sq ft in Spain. The transaction value has not been disclosed.
The six warehouse units, which have all been developed by Gazeley, are located across five logistics parks in strategic and sustainable micro locations with excellent access to motorways and transport infrastructure anchored around the core logistics hubs of Madrid and Milan.
The transaction completed on 31st October 2016.
Pat McGillycuddy CEO Europe & China, Gazeley, commented: “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.”
Gazeley were advised by JLL and Herbert Smith Freehills and Blackstone were advised by CBRE and Simpson Thatcher.
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