Blackstone announced 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 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.
Emmanuel Van der Stichele has been appointed the Chief Executive of Mileway.
James Seppala, Head of Blackstone Real Estate Europe said: “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 added: “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 100 million sqm of logistics globally.
Mileway is the largest owner of last mile logistics real estate assets in Europe. It has a pan-European footprint, with approximately 1,000 assets across eight major European economies. Core markets of the UK, Germany, the Netherlands and France represent over 80% of the portfolio, with a growing presence in the Nordics and Southern Europe. The business is headquartered in Amsterdam, and has a dedicated team of over 150 employees, with a local presence in each of its markets.
