Blackstone launches Mileway for European last mile logistics
Blackstone announces today the launch of its pan-European last mile logistics real estate company, Mileway.
The new company owns and operates approximately 1,000 logistics assets that have been acquired by real estate funds managed by Blackstone over several years.
Mileway’s logistics properties, which are predominantly located within and around major European cities serving the last mile needs of its tenant base, total more than 9m sq m. The portfolio spans urban centres across Europe’s largest economies, including the UK, Germany, France, Spain, the Netherlands and the Nordics. The company will continue to expand its portfolio in existing and new markets.
James Seppala, head of Blackstone Real Estate Europe: “Mileway is a natural evolution of our European logistics strategy, which is one of our highest conviction, long-term investment themes. As the largest last mile logistics real estate company in Europe, Mileway will meet growing e-commerce-related demand for last mile logistics real estate, facilitate faster delivery times and support the growth of small and large businesses.”
Emmanuel Van der Stichele, CEO, Mileway: “The growth of e-commerce and urbanisation is intensifying the requirement for faster logistics solutions. Mileway is the number one gateway to urban markets, and we are uniquely positioned to help businesses shorten delivery times, grow their customer base and scale geographically.”
Blackstone is one of the leading owners of logistics properties globally, with assets across North America, Europe and Asia. The launch follows a number of investments by real estate funds managed by Blackstone in the logistics sector globally. Since 2010, Blackstone has acquired nearly 1bn sq ft of logistics globally.