Logicor, Blackstone Group LP’s European logistics unit, bought 19 properties in France and Germany from Goodman Group as it expands across the region.
The deal includes 10 distribution facilities in France with 300,000 square meters (3.2 million square feet) of space, Logicor said Thursday. In Germany, the company acquired nine warehouses with 179,000 square meters.
Logicor, founded by Blackstone in 2012, has grown its assets to more than 7 million square meters as it expands across Europe, signing deals in countries including the U.K., Germany, France and Poland. The company is seeking to benefit from increased demand for warehouses and distribution centers as online retail sales in the region grow.
European warehouses attracted record investment last year, climbing by 28 percent to 21.7 billion euros ($24.7 billion), according to JLL.