Europe’s largest last-mile logistics real-estate company, Mileway, has been recapitalised to the tune of €21bn. The deal was announced by Blackstone, which is the largest owner of commercial real estate globally.
Last-mile delivery has become increasingly important since the start of the pandemic, because lockdown saw an explosion in e-commerce. As a result of this, the number of business to consumer (B2C) deliveries has grown hugely.
It might be the shortest link in the supply chain, but last-mile can sometimes be the most costly, because it is dependent on infrastructure that might include ports, inland waterways, rail, roads and bridges.
Last-mile can be supply's most expensive
Challenges around last-mile delivery, include minimising costs, ensuring transparency, increasing efficiency and making sure there is solid supply infrastructure.
Infrastructure is where companies like Mileway come in. Mileway is Europe’s largest owner of last-mile logistics real estate assets. It owns or manages a portfolio of 1,700 warehouses, distribution facilities and fulfilment centres that total 14.7 million square metres.
These offer businesses close proximity to one hundred European cities in the UK, Germany, Netherlands, Sweden, France, Denmark, Italy, Spain, Finland and Ireland.
'Coveted' last-mile portfolio - Mileway
Mileway CEO Emmanuel Van der Stichele said: “We have worked closely with Blackstone to create a coveted last-mile logistics portfolio that better connects our customers to the businesses and communities they serve.
“Blackstone’s ongoing support will enable us to continue executing on our shared vision, as we implement our value-enhancing initiatives and development plans in key urban locations across the UK and Europe.”
Blackstone Head of Real Estate Europe, James Seppala, said: “We’re proud to have built a premier portfolio of European, last-mile logistics properties in the most sought-after locations.
“Logistics is one of our highest conviction themes globally, and the sector continues to prove its resiliency and strong growth potential.”
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