Blackstone : Completes 21 Billion Recapitalization of Mileway

04/29/2022 | 12:58pm

29 April 2022

London, April 29, 2022 - Blackstone (NYSE: BX) today announced that existing investors in Mileway have completed the previously announced €21 billion recapitalization of the company alongside Blackstone's Core+ perpetual capital vehicles.

Morgan Stanley & Co. International plc provided a fairness opinion with respect to the consideration to be received and Eastdil Secured International Limited provided a real estate value fairness opinion, in each case to the selling funds in connection with the transaction. Morgan Stanley & Co. International plc also completed a "go-shop" process on the selling funds' behalf.

BNP Paribas, BofA Securities, Deutsche Bank AG, Eastdil Secured International Limited, Goldman Sachs International, Jones Lang LaSalle Limited, JP Morgan Securities plc, Morgan Stanley & Co. International plc, RBC Capital Markets, and Rothschild & Co served as financial advisors to the selling funds. Simpson Thacher & Bartlett LLP served as legal advisor to Blackstone.

The transaction was announced on February 15, 2022.

About Blackstone Real Estate
Blackstone is a global leader in real estate investing. Blackstone's real estate business was founded in 1991 and has $298 billion of investor capital under management. Blackstone is the largest owner of commercial real estate globally, owning and operating assets across every major geography and sector, including logistics, residential, office, hospitality and retail. Our closed-ended funds seek to acquire undermanaged, well-located assets across the world. Blackstone's Core+ business invests in substantially stabilized real estate assets globally, through both institutional strategies and strategies tailored for income-focused individual investors including Blackstone Real Estate Income Trust, Inc. (BREIT), a U.S. non-listed REIT, as well as Blackstone's European strategy tailored for non-U.S. individual investors. Blackstone Real Estate also operates one of the leading global real estate debt businesses, providing comprehensive financing solutions across the capital structure and risk spectrum, including management of Blackstone Mortgage Trust (NYSE: BXMT).

About Mileway
Mileway is the largest owner of last mile logistics real estate assets in Europe. It has a pan-European footprint, with over 1,600 assets across 10 major European countries. Mileway's largest markets include the UK, Germany, the Netherlands, Sweden and France, and it has a significant presence in Denmark, Italy, Spain, Finland and Ireland. Mileway has a dedicated team of over 360 employees across 26 offices. To find out more, visit: www.mileway.com.

Media Contact
Louis Clark
Louis.Clark@Blackstone.com
+44 7867 930156

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The Blackstone Group Inc. published this content on 29 April 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 29 April 2022 16:57:07 UTC.

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