11 April 2017
London
Reporter: Stephanie Palmer

DCAM and Blackstone join forces on logistics partnership


Delin Capital Asset Management (DCAM) has partnered with Blackstone’s Core+ business on acquiring logistics assets in Germany, the Benelux region and the UK.

DCAM, a pan-European logistics real estate owner, investor and developer, has contributed an initial seven-asset portfolio of UK and Dutch assets to the partnership.

The portfolio comprises over 230,000 square metres of leased grade-A logistics space, and a 58,400-square metre pre-let development in Roosendaal, the Netherlands.

Through the partnership, DCAM and Blackstone intend to grow this portfolio through investment in logistics assets in locations where the demand-supply balance is off.

Blackstone’s Core+ business uses a ‘buy it, fix it’ strategy to deliver risk-adjusted returns, targeting high-quality assets with modest risk profiles and long hold periods, in gateway cities.

DCAM will act as asset manager in the partnership.

Ekaterina Avdonina, managing director of DCAM, said: “We are delighted to have created this new partnership with an established real estate investor in Blackstone and look forward to growing it over the coming years, leveraging our combined experience to identify and acquire new opportunities across our target markets.”

“Occupier demand for high-quality and well-located warehouse and logistics space continues to gain momentum, underpinned by the structural changes taking place in consumer shopping habits. With the sector having demonstrated ongoing resilience and outperformance, we are confident that underlying market fundamentals are in place to support this new vehicle.”

In establishing the partnership, DCAM was advised by JLL, and Blackstone was advised by CBRE.

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