Blackstone launches Mileway - largest last mile logistics real estate company in Europe
Press release – 24 September 2019
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 the last 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 9 million square meters. The portfolio spans urban centers 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.
Mileway is a natural evolution of our European logistics strategy James Seppala, Head of Blackstone Real Estate Europe
Emmanuel Van der Stichele has been appointed the Chief Executive of Mileway.
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 urbanization 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.”
Emmanuel Van der Stichele was previously Fund Director of the Goodman European Logistics Fund, one of the largest European non-listed logistics funds with approximately €3.5 billion of assets under management. Dominiek Van Oost has been appointed Chief Operating Officer and Thomas ten Bokum will start as the new Head of Investment and Portfolio Management in October 2019.
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 1 billion square feet of logistics globally.
About Blackstone Real Estate
Blackstone is a global leader in real estate investing. Blackstone’s real estate business was founded in 1991 and has $154 billion of investor capital under management. Blackstone is one of the largest property owners in the world, owning and operating assets across every major geography and sector, including logistics, rental housing, office, hospitality and retail.
Read press release on Blackstone’s website