European logistics real estate fund sells assets to Blackstone
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Singapore
A EUROPEAN logistics real estate fund managed by Elite Partners Capital has completed the sale of its entire portfolio to a fund managed by the Blackstone Group for 520 million euros (S$795 million).
The sale has enabled the closed-ended Elite Logistics Fund I, listed on private exchange ADDX, to achieve an annualised return more than double its 12 per cent per annum target.
Individual accredited investors on ADDX subscribed to the Elite fund in 2 separate offerings in June and December 2020. Fund units were tokenised by ADDX, and the use of block…
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