Jones Day Reps Blackstone In $246M French REIT Buy

Law360, New York (July 24, 2012, 1:17 PM EDT) -- Blackstone Group LP will buy most of the logistics assets of French real estate investment trust Gecina SA for €203 million ($246 million), adding to a global warehouse portfolio it's been building up in recent months, the parties said Tuesday.

The portfolio includes 28 assets, all in France, and represents nearly all of Gecina's remaining logistics holdings. The REIT, which will keep two "nonsignificant" properties, said the deal is a "decisive step forward" in carrying out a strategic shift announced last year, when it sold another...
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