American investment company Blackstone has acquired CT Real Estate, which owns a portfolio of ten logistics parks in the Czech Republic and Slovakia, from American company TPG Real Estate.
The transaction is valued at EUR 470 million, making it one of the largest real estate transactions in Europe this year.
Blackstone is an alternative asset manager with more than USD 1.1 trillion in assets under management. Established in 1992, TPG is an alternative asset manager with USD 239 billion in assets under management.
CTRE’s portfolio, which initially began in 2019 with a EUR 90 million investment in partnership with local landlord Contera, has since quadrupled to cover approximately 500,000 square meters of logistics facilities.
The White & Case law firm advised TPG Real Estate on the deal, with Schoenherr, working alongside Simpson Thacher & Bartlett, advising Blackstone.