Blackstone could enter Romania by buying Immofinanz’s logistics portfolio

Logicor, the European logistics division of the global asset manager Blackstone, is in exclusive talks for acquiring the entire portfolio of logistic spaces put up for sale by Austrian real estate developer Immofinanz, including the ones in Romania. In Romania, Immofinanz owns three logistic spaces in Ploiesti, Pantelimon, and Timisoara, evaluated at EUR 24.2 million, as well as three projects under development in Mogosoaia, Sibiu, and Brasov. If the deal goes through, Logicor will acquire over 110 hectares of land in Romania, reports local Capital.ro. The total value of the portfolio put up for sale by Immofinanz amounts to EUR 550 million and includes a rentable area of over 1 million sqm. Over half of the assets are located in Germany, whereas the rest are in Poland, Hungary, Slovakia, Romania, and Russia. Blackstone also entered the race for buying the portfolio of non-performing loans belonging to the local lender BCR, which was estimated at EUR 2.7 billion, but the bank later decided to give up the sale. editor@romania-insider.com