The US private equity fund Blackstone expands in logistics and launches Proxity, New pan-European logistics operator and developer to provide high quality, highly flexible solutions for a diverse customer base in Europe’s most dynamic metropolitan regions. Based in Frankfurt and headed by CEO Guido Piñol, the new company should be fully operational by 2026: recruitment is already underway in Germany and other 

Proxity will operate in the main markets of continental Europe, the Nordic countries and Ireland: the objective is to expand its portfolio both in existing and new markets in line with its growth strategy. Proxity will initially include a portfolio of about 500 buildings and logistics development areas, for a total of over 7 million square meters of leasehold space: we are talking about areas all owned by real estate funds managed by Blackstone. 

"Logistics -explains James Seppala, head of Real Estate Europe at Blackstone- is one of the investment themes in which we have the most confidence globally, the sector continuing to benefit from its extremely favourable long-term fundamentals, The creation of Proxity is a further testament to Blackstone’s belief and our funds' ability to invest capital in fragmented markets to build a scalable logistics platform that can capitalize on growing and ongoing demand Evolution of customers".

Add Guido Piñol, CEO of Proxity: "As global ecommerce and supply chain trends continue to drive occupancy demand, we are excited about the opportunity to create a truly pan-European platform that provides customized logistics solutions to our customers. With the support of Blackstone, we are in an ideal position to invest capital and foster growth, also through our ambitious development programme."