Blackstone is about to strike hard in France, once again, one might be tempted to write.
As revealed by Business Immo on June 23, the American giant is in pole position to acquire the Paris Trocadéro business center put on the market by Union Investment at the end of the winter. According to our information, its offer of €705 million has caught the attention of the German investor, which "intends to move quickly" in the sale of this 41,234-square-meter mixed-use asset in Paris' 16th arrondissement.
Blackstone, in competition with Hines, Tishman Speyer and Norges Bank Investment Management, is on the verge of acquiring this XXL complex — a "real piece of the city," as brokers like to call it — comprising 28,000 square meters of office space, 3,500 square meters of retail space and more than 50 apartments totaling 6,000 square meters.
In truth, it's hardly surprising that the American behemoth has positioned itself on THE project of the 2025 financial year, one that is supposed to provide the pulse of the market, or at the very least offer a benchmark, a compass for the months to come.
According to the Fund Manager Survey 2025 published by Anrev, Inrev and NCREIF, Europe's largest property manager has already made a splash in recent months with a number of acquisitions, including the Mandarin Oriental boutiques for €148 million, pictured above, and the acquisition of an 80% stake in Burstone's European logistics portfolio, which includes 10 assets in France.
Blackstone is equally active in acquisitions and sales, whether for its managed funds or its subsidiaries, such as Mileway and Logicor. Notable disposals include the Paris Opéra hotel for €244 million and the Monclair logistics portfolio for €325 million.
Main acquisitions
| Deals & Data | Year | Assets | Location | Buyer | Seller | Size | Price |
| 1 | 2024 | European logistics portfolio (32 assets, including 10 in France) | Toussieu, Rennes, Le Havre, etc. | Blackstone | Burstone | 1.2 million m² | €1.02 billion |
| 2 | 2025 | Paris Trocadéro (*) | Paris | Blackstone | Union Investment | 41,234 m² | €705 million |
| 3 | 2024 | Eight business parks | Paris, Lyon and Marseille regions | Blackstone | Amundi Immobilier | 300,000 m² | €290 million |
| 4 | 2024 | Mandarin Oriental boutiques | Paris | Blackstone | Mandarin Oriental Hotel Group | 1,100 m² | €148 million |
| 5 | 2025 | Parks Arboretum | Haillan | Mileway | Alsei Entreprise | 69,000 m² | N/A |
(*) Blackstone is in pole position to acquire the business center from Union Investment
Main disposals
| Year | Asset | Location | Buyer | Seller | Size | Price | |
| 6 | 2024 | Monclair logistics portfolio (9 assets) | Dunkirk, Salon-de-Provence, etc. | Ares Management - Factor'Industry Real Estate | Logicor | 358,000 m² | €325 million |
| 7 | 2024 | Hilton Paris Opéra | Paris | City Developments Limited | Blackstone | 18,000 m² (268 rooms) | €244 million |
| 8 | 2023 | Camélia logistics portfolio (5 assets) | Dagneux, St-Quentin-Fallavier, St-Rambert-d'Albon, Saulce-sur-Rhône, Rosny-sur-Seine | P3 Logistic Parks | Blackstone | 148,000 m² | €200 million |
| 9 | 2025 | Logistics portfolio (5 assets) | Montélimar, Monteux, Montbertier | EQT Real Estate | Blackstone | 148,000 m² | €150 million |
| 10 | 2023 | Daisy logistics portfolio (5 assets) | Lille, Angers, Nantes, near Valence and north of Lyon | Boreal IM | Logicor | 165,000 m² | €145 million |
| 11 | 2024 | Podium portfolio (6 assets) | Paris region, Orléans and Lille | Pictet Alternative Advisors - Arax Properties | Mileway | 122,000 m² | €105 million |