Ashurst advises Castlelake and Merlcombe on the sale of 28 real estate assets in Germany and France to Blackstone

Global law firm Ashurst has advised funds managed by Castlelake, and its partner Melcombe, on the sale of a portfolio comprising 28 urban logistics assets to real estate funds managed by Blackstone.

The "Proximity" portfolio comprises 28 assets located across Germany and France, with a total surface area of more than 200,000 square meters. The majority of the properties are located in the Paris region.

The portfolio benefits from the diversification of income linked to the number of tenants, which mainly comprises logistics operators and e-commerce specialists.

Ashurst's multidisciplinary team, led by partners Patrick Gerry in Paris and Isabelle Lentz in Luxembourg, included partner Anne Reffay, counsel Adrien Williot, associates Constance Guillaume, Anaïs Fromaget and Nausicaa Marzolf, for the transactional and real estate aspects. Counsel Thomas Ehrecke and associate Pauline Ducousso advised on the financing aspects, with counsel Paul Witte, director Chiara Bardini, senior associate Geoffrey Delamarre and associates Laurence Latuillerie, Thomas Roulleaux and Philipp Weber in Luxembourg.

CBRE advised the funds managed by Castlelake and its partner Melcombe on this transaction. JLL advised Blackstone.