Blackstone Sells Lisbon Portfolio to Sagax for About €90 Million

Swedish real estate company Sagax AB has agreed to acquire a portfolio of logistics properties in the Lisbon area from Blackstone Inc. for more than €90 million ($98 million), according to people familiar with the matter.

The deal covers eight assets on the outskirts of the Portuguese capital used for warehousing, distribution and goods handling, the people said, asking not to be identified because the information is private. The transaction is part of Sagax’s broader push into Southern Europe, where it plans to build a local team for the long term in Portugal, they said.

Representatives for Sagax and Blackstone ...