Blackstone has applied a selective acquisition and disposal strategy in France, prioritizing investments in lucrative opportunities in the logistics, prime retail and hospitality sectors.
One of Blackstone’s highlight acquisitions over the review period was a €304 million ($325 million) French logistics portfolio purchase from Amundi. This portfolio encompasses multiple strategically situated assets across France and aligns with Blackstone’s strategy to enhance its European logistics footprint with high-quality, well-located assets offering reliable rental income streams.
In a parallel investment move, Blackstone acquired two retail units adjoining the prestigious Mandarin Oriental, Paris for €148 million. This transaction, made through Blackstone-controlled entity Lavender Propco SNC, is reflective of the firm’s regional strategy to snatch up prime retail locations associated with renowned hotel properties. The sale was finalized with Mandarin Oriental International, a London-listed company under Hong Kong’s Jardine Matheson group.
A pattern observed across Blackstone’s European portfolio has been the leveraging of strategic asset sales to boost liquidity to support new acquisitions.
For example, in the logistics space, the firm has selectively sold stabilized assets to reinvest in other high-growth or underdeveloped logistics opportunities across Europe.