Deals
Blackstone Plans $6.8 Billion European Urban Warehouse Unit
- Online retailers like Amazon are driving demand for facilities
- Private-equity giant is hiring an executive to run the company
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Blackstone Group LP plans to pool 6 billion euros ($6.8 billion) of its smaller European warehouse investments in a new company that will ultimately be publicly listed or sold.
The private-equity giant is in the process of hiring an executive to run the company, which will manage its holdings of logistics properties close to towns and cities, according to people with knowledge of the matter. Blackstone has led a wave of investment into urban warehouses, betting that demand from online retailers such as Amazon.com Inc. will continue to push up rents and values.