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Austria's Immofinanz sells logistics portfolio to Blackstone

Austrian property group Immofinanz is set to sell its logistics portfolio to U.S. private equity firm Blackstone, to focus on its retail and office business in western Europe, the company said on Monday. The deal includes all 36 of Immofinanz’s logistics sites, 24 located in Germany, and the rest spread across Hungary, Romania, Poland, Slovakia and Russia. Blackstone will integrate them into its European logistics unit Logicor and buy three projects - one under construction in Germany and two in Romania, Immofinanz added. No financial details of the deal were disclosed.

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