Press Release
September 7, 2020

Castlelake Sells Logistics Portfolio To Blackstone

The Frankfurt Private Equity and Real Estate teams advised the investment company Castlelake L.P. on the sale of a logistics portfolio in Germany and France held in a joint venture with Melcombe. The joint venture sold the portfolio in an auction process to Blackstone.

The "Proximity" portfolio comprises a total of 28 urban logistics properties, 16 of which are located in Paris. About 200,000 square meters of total space are leased to 48 tenants, of which most are third-party logistics operators and e-commerce companies.

Goodwin advised Castlelake with a team from the Frankfurt office led by partner Peter Junghänel. The team also included partners, Stephan Kock, Heiko Penndorf, and counsel Felix Krueger as well as associates Gleb Lidman, Felix Weber, trainee Anna Weiermann. English law advice was provided by London partner Simon Fulbrook and associate Richard Hughes.