Erste Group Provides Blackstone with a 5-Year EUR 91 Million Facility

BusinessDeals ♦ Published: February 22, 2016; 18:30 ♦ (Vindobona)

Erste Group provides Blackstone with a 5-year EUR 91 million facility to acquire 12 logistics assets. The 265000 sqm portfolio covers 12 standing logistics investments located in Hungary (5), Romania (4), Poland (2) and Slovakia (1), as well as land reserves.

CEO & President at Logicor: “Our latest logistics acquisition takes our CEE real estate portfolio to over 1 million sqm." / Picture: © Logicor Europe Limited

Two of these assets - Bucharest and Ploiesti (RO) - are currently under construction and will be completed by Immofinanz.

Blackstone will integrate the assets into Logicor, its European logistics platform.

Richard Wilkinson, Head of Commercial Real Estate at Erste Group Bank AG said: "The real estate investment market in CEE grew by 19% in 2015. Transaction volumes have…