TPG Real Estate's Sale of Logistics Parks to Blackstone for EUR 470 Million
Deal News | Dec 20, 2024 | CEE Legal Matters
TPG Real Estate has successfully completed the sale of its CT Real Estate portfolio for EUR 470 million to funds managed by Blackstone. The logistics parks, located in the Czech Republic and Slovakia, initially began with an investment of EUR 90 million in 2019 in partnership with Contera and have grown to approximately 500,000 square meters. Legal advisory roles for the transaction included teams from White & Case for TPG Real Estate and Schoenherr alongside Simpson Thacher & Bartlett for Blackstone. Talers is also reported to have advised TPG Real Estate. Both TPG and Blackstone are significant players in the alternative asset management industry with substantial assets under management.
Sectors
- Real Estate
- Private Equity
- Legal Services
Geography
- Czech Republic – The article discusses logistics parks located in the Czech Republic.
- Slovakia – The article discusses logistics parks located in Slovakia.
Industry
- Real Estate – The article focuses on a significant transaction involving logistics parks, which are a key component of the real estate industry.
- Private Equity – TPG Real Estate and Blackstone are both alternative asset managers, which are a part of the private equity industry.
- Legal Services – Multiple legal advisory firms were involved in this transaction, highlighting the sector's important role in M&A deals.
Financials
- EUR 470 million – Sale price of CT Real Estate portfolio by TPG to Blackstone.
- USD 1.1 trillion – The total assets under management by Blackstone.
- USD 239 billion – The total assets under management by TPG.
- EUR 90 million – The initial investment by TPG in partnership with Contera to start CTRE portfolio.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| TPG Real Estate | Selling Company | Company | An alternative asset manager selling its logistics parks portfolio. |
| Blackstone | Bidding Company | Company | A global alternative asset manager acquiring the logistics parks. |
| White & Case | Legal Advisor to Seller | Company | Provided legal advisory services to TPG Real Estate. |
| Schoenherr | Legal Advisor to Buyer | Company | Worked with Simpson Thacher & Bartlett to advise Blackstone. |
| Simpson Thacher & Bartlett | Legal Advisor to Buyer | Company | Worked in collaboration with Schoenherr to advise Blackstone. |
| Talers | Legal Advisor to Seller | Company | Reported to have advised TPG Real Estate. |