Blackstone completed the acquisition of a last-mile logistics portfolio from QUBE.

Blackstone, a provider of investment management and advisory services, completed the acquisition of a last-mile logistics portfolio from QUBE, an integrated developer, operator and investment manager. Financial terms were not disclosed. “This is a continuation of our commitment to investing in prime Korean assets in fast-growing sectors. Logistics is one of our highest conviction investment themes in real estate globally and a focus for us in South Korea, particularly in the Seoul Metropolitan Area where last-mile new supply remains extremely limited and vacancy for such assets is at a low 4% range. We are pleased to bring together our global expertise and scale in the sector, asset management capabilities, and local insights, to continue to grow the platform for long-term success,” Chris Kim, Managing Director.