SEOUL – JULY 28, 2025 – Blackstone today announced that Blackstone Real Estate Partners (“Blackstone”) has acquired through QUBE Industrial Asset Management funds a high-quality, last-mile logistics portfolio in the Seoul Metropolitan Area.

The portfolio comprises two modern, Grade A logistics centers spanning 1.3 million square feet in Gimpo and Namyangju, which are among Greater Seoul’s most sought-after infill markets. Tenants include some of the largest local and global corporations in e-commerce and logistics.

Chris Kim, Head of Blackstone Real Estate – Korea, said: “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.”

Blackstone has been an active investor in Korean real estate since establishing the team three years ago. Last year, it completed three major transactions, including investing in a large multi-story logistics asset in Gimpo; buying an office building in Seoul’s Gangnam district to convert into a select-service hotel in partnership with Travelodge Asia; and closing the landmark sale of Arc Place after years of work to transform the asset into a premier office building in Seoul.

About Blackstone Real Estate
Blackstone is a global leader in real estate investing. Blackstone’s real estate business was founded in 1991 and has US $320 billion of investor capital under management. Blackstone is the largest owner of commercial real estate globally, owning and operating assets across every major geography and sector, including logistics, data centers, residential, office and hospitality. Our opportunistic funds seek to acquire undermanaged, well-located assets across the world. Blackstone’s Core+ business invests in substantially stabilized real estate assets globally, through both institutional strategies and strategies tailored for income-focused individual investors including Blackstone Real Estate Income Trust, Inc. (BREIT). Blackstone Real Estate also operates one of the leading global real estate debt businesses, providing comprehensive financing solutions across the capital structure and risk spectrum, including management of Blackstone Mortgage Trust (NYSE: BXMT).

Media Contacts
Ellen Bogard
+852 9731 9726
Ellen.Bogard@Blackstone.com

Wendy Lee
+852 9176 6179
Wendy.Lee@Blackstone.com

The PBSA asset comprises a seven-floor building located on the former AEG factory in Terrassa
● It comprises 12,700 sqm, with 358 rooms with capacity for 369 beds, and indoor and outdoor amenities totaling more than 2,600 sqm
● This deal marks the second acquisition in Spain and the seventh closed by Ardian and Rockfield in just eight months since the launch of their European PBSA strategy

Hemink Group welcomes Gimv as a new investor. Gimv acquires a majority stake from minority shareholder Pontex and the former management of Hemink. The latter will retain a minority stake in the new structure. Hemink’s current management team will co-invest, underlining their long-term commitment to the company’s further growth. In collaboration with Gimv, Hemink aims to further expand its activities as a national player in property maintenance in a sustainable manner. This will enable Hemink to respond even better to the growing demand from clients while continuing to offer good conditions for their employees.

Hemink has been a leading player in the finishing, and sustainable renovation and maintenance of real estate for more than 65 years. The company specialises in circular project approaches and results-oriented property maintenance, with a specific focus on large-scale and extensive sustainable renovation projects.

Over the years, Hemink has experienced strong growth and built a solid reputation by completely unburdening their clients with their comprehensive set of services. Quality, flexibility and craftsmanship are core values that are decisive for clients. Due to this approach, Hemink has built up an impressive client base consisting of long-term partnerships and many multi-year contracts. With over 370 employees and a network of loyal partners, the company can respond quickly and flexibly to local needs. Hemink operates from four locations and is headquartered in Holten.

Shared ambition, moving forward together
The sustainable renovation of real estate requires an integrated approach. The focus is shifting to results-oriented property maintenance, in collaboration with all stakeholders, and aimed at long-term performance, optimized total cost of ownership, minimal environmental impact and maximum value for residents.

Circular maintenance and renovation enable the reuse of materials, reduction of waste and limit CO₂ emissions. This transition requires cooperation across chains, smart planning and data-driven decision-making, ensuring that sustainability, maintenance and improvement go hand in hand, efficiently, measurably and with a long-term impact. This approach is essential to keep the housing stock sustainable and affordable for the future.

Established foundation, new opportunities
For employees, customers and partners, very little will change. Hemink will continue to operate under its own identity, with the same people, the same approach and the same ambition. The partnership with Gimv provides significant opportunities: additional knowledge and experience, and strength to further contribute to building a future-proof Netherlands.

Rutger Vrielink (CEO) and Dennis Schasfoort (CFO), explain: “With our qualified employees and extensive range of services, we add value for our clients and actively contribute to making the Netherlands more sustainable. Pragmatic, creative and results-oriented: that is what defines us! We would like to thank Pontex for the pleasant cooperation over the past years and, together with Gimv, we are taking the next step to serve our clients even better.”

Rombout Poos (Partner) and Cos Vrins (Principal) in Gimv’s Sustainable Cities form the deal team and describe the investment as follows: “Hemink is a strong player in a segment that responds to important trends that closely align with the strategy of our Sustainable Cities platform. We look forward to working with the Hemink team to realise further expansion and, with it, the further sustainability of the Dutch housing stock.”

Franck Marra (Partner) and Luuk Boere (Investment Manager) at Pontex Investment Partners state: “Hemink has achieved strong growth over the past four years. Its strong entrepreneurial spirit and innovative culture have been key drivers for its success. We are proud that Pontex has been able to contribute to this growth as an actively engaged shareholder. We would like to thank all employees for their continued commitment and dedication and, in particular, Jan, Bert, Robert, Dennis and Rutger for their leadership and vision.”

The transaction is subject to customary conditions, including approval by the competition authorities. No further financial details will be disclosed.

Ardian and Rockfield have acquired the Nido Portfolio comprising 1,209 beds with assets ‘More’ in Leiden and ‘Muse’ in Maastricht.
● The transaction marks the latest investment under their pan-European student housing strategy — launched in October — which has already surpassed €600 million in acquisitions across Europe and is supported by a strong secured pipeline expected to push total volume beyond €1 billion by year-end.
● Muse and More are recently completed affordable PBSA assets in highly under-supplied markets, boasting excellent sustainability credentials as they align to the 2050 CRREM pathway.
● After the acquisition of Minerva in Amsterdam in last May, the partnership has now acquired over 1,800 units in the Netherlands in 2025.

Acquired in December 2022, the property, located in the strategic Porta Nuova district, is being extensively redeveloped into a modern, forward-looking workspace, meeting the highest international ESG standards.
• Ardian reaffirms its role as a key player in the green office sector in prime locations, a market characterized by steadily growing demand and a very limited supply.

Abenex REIM, through a dedicated investment vehicle backed by institutional and private investors, has acquired a residential real estate asset located in Neuilly-sur-Seine (92). This transaction is fully aligned with Abenex REIM’s strategy, which targets high-quality assets in prime locations with strong value-creation potential.

Constructed in 1936, the Art Deco building consists of over 2,800 sqm of Carrez law surface across six floors (R+6). Ideally located near the Bois de Boulogne and just minutes from metro line 1, the asset benefits benefits from a prime location in Neuilly-sur-Seine.

The property was previously owned by a family joint-ownership (indivision) and has been well maintained. However, no significant value-enhancing initiatives have been undertaken until now. In line with its value-add strategy and ESG positioning, Abenex — a purpose-driven and B-Corp certified company— is planning a repositioning program for approximately three years.

The renovation program will aim to significantly enhance the building’s energy performance while redesigning the layout of the common areas. The restructuring of the upper floors and reconfiguration of the apartments will help address the strong demand for family housing in Neuilly-sur-Seine.

Carried out with the support of institutional and private investors – including Etoile du Nord Promotion, LC Promo, CEPRAL Participations and the FCPR Anaxago Society – via a dedicated investment vehicle, this acquisition adds to Abenex REIM’s portfolio, which now exceeds €200 million. It marks the second transaction completed in 2025.

“In an opportunistic market environment, this acquisition demonstrates our ability to identify and secure high-quality residential assets under attractive conditions. The recovery currently observed in Neuilly reinforces our convictions regarding the resilience and strong value-creation potential of prime locations in Paris’ inner suburbs,”
comments Vincent Brunswick, Partner at Abenex in charge of real estate activities.

The renovation plan aims to significantly improve the building’s energy performance and reconfigure common areas. The restructuring of upper floors and reorganization of apartment layouts will address the strong demand for family housing in Neuilly-sur-Seine.

New York & Las Vegas – Blackstone (NYSE: BX) and Allegiant Travel Company (NASDAQ: ALGT) today announced that funds affiliated with Blackstone Real Estate have agreed to acquire Sunseeker Resort Charlotte Harbor from Allegiant for $200 million.

With 785 rooms spanning 22 waterfront acres on the Gulf Coast of Florida, Sunseeker Resort Charlotte Harbor is a brand-new resort with extensive core amenities, including multiple food and beverage concepts, two pools, a spa, a fitness center, a rooftop adult pool and bar, a championship golf course and more than 60,000 square feet of combined indoor meeting space.

Scott Trebilco, Senior Managing Director at Blackstone Real Estate, said: “The acquisition of this brand new, highly-amenitized resort demonstrates our strong conviction in hospitality and travel and the continued growth in group-oriented destinations. Allegiant has built a fantastic property and we look forward to bringing our extensive experience with large scale resorts to Sunseeker.”

“Blackstone’s extensive hospitality holdings and their execution capabilities make them the ideal counterparty for this transaction and also to help realize the full potential of Sunseeker Resort,” said Gregory C. Anderson, CEO at Allegiant Travel Company. “Furthermore, it supports Allegiant’s strategy centered around the airline and we plan to use the proceeds from the sale to repay debt and strengthen our balance sheet.”

Barclays served as financial advisor to Allegiant on this transaction.

The transaction is expected to close in the third quarter of 2025, subject to satisfying customary conditions.

About Blackstone Real Estate
Blackstone is a global leader in real estate investing. Blackstone’s real estate business was founded in 1991 and has US $320 billion of investor capital under management. Blackstone is the largest owner of commercial real estate globally, owning and operating assets across every major geography and sector, including logistics, data centers, residential, office and hospitality. Our opportunistic funds seek to acquire undermanaged, well-located assets across the world. Blackstone’s Core+ business invests in substantially stabilized real estate assets globally, through both institutional strategies and strategies tailored for income-focused individual investors including Blackstone Real Estate Income Trust, Inc. (BREIT). Blackstone Real Estate also operates one of the leading global real estate debt businesses, providing comprehensive financing solutions across the capital structure and risk spectrum, including management of Blackstone Mortgage Trust (NYSE: BXMT).

Allegiant – Together We Fly^TM
Las Vegas-based Allegiant (NASDAQ: ALGT) is an integrated travel company with an airline at its heart, focused on connecting customers with the people, places and experiences that matter most. Since 1999, Allegiant Air has linked travelers in small-to-medium cities to world-class vacation destinations with all-nonstop flights and industry-low average fares. Today, Allegiant serves communities across the nation, with base airfares less than half the cost of the average domestic roundtrip ticket. For more information, visit us at Allegiant.com. Media information, including photos, is available at http://gofly.us/iiFa303wrtF.

Contacts
Jeffrey Kauth
212-583-5395
Jeffrey.Kauth@blackstone.com

Allegiant
702-800-2020
mediarelations@allegiantair.com

CapMan Real Estate, through its third value-add fund CapMan Nordic Real Estate III (“CMNRE III”, the “Fund”), has acquired a residential development project comprising 205 rental units in Jakobsberg, Järfälla from JM. The project is expected to be completed in Q4 2027.

Located in a highly attractive micro-location with excellent access to public transportation, the site offers commuting time of under 25 minutes to central Stockholm. The area benefits from strong tenant demand and a limited supply of rental housing. Designed to meet high sustainability standards, the project will feature BREEAM certification, a minimum EPC rating of B, solar panels, EV charging stations, and aims for EU Taxonomy alignment. Tenants will benefit from a range of mobility solutions, including access to carpool, to support sustainable commuting.

“We are pleased to grow our residential portfolio in Greater Stockholm and act on compelling opportunities in the current market. With strong fundamentals and structural supply-demand imbalances, the residential sector remains a high-conviction theme for us. This project is designed to meet the growing need for high-quality, middle-income rental housing in one of Europe’s fastest-growing metropolitan areas,” says Pontus Danielsson, Investment Manager at CapMan Real Estate.

“This acquisition is fully aligned with our strategy of investing in sustainable, well-located residential assets across key Nordic growth regions. With strong local market knowledge and a robust deal pipeline, we are well positioned to continue scaling our residential platform,” adds Marcus Lotzman, Head of Transactions, Sweden at CapMan Real Estate.

The transaction is structured as a forward purchase, with closing expected upon project completion in Q4 2027. It marks the 22nd investment made by CMNRE III.

CapMan Real Estate manages approximately €5.5 billion in real estate assets, with a team of over 80 professionals based in Helsinki, Stockholm, Copenhagen, Oslo and London.

For further information, please contact:

Marcus Lotzman, Head of Transactions, Sweden, +46 70 680 60 81

Pontus Danielsson, Investment Manager, +46 70 385 58 00

About CapMan

CapMan is a leading Nordic private asset expert with an active approach to value creation and €6.4 billion in assets under management. As one of the private equity pioneers in the Nordics we have developed hundreds of companies and assets creating significant value for over three decades. Our objective is to provide attractive returns and innovative solutions to investors by enabling change across our portfolio companies. An example of this is greenhouse gas reduction targets that we have set under the Science Based Targets initiative in line with the 1.5°C scenario and our commitment to net-zero GHG emissions by 2040. We have a broad presence in the unlisted market through our local and specialised teams. Our investment strategies cover real estate and infrastructure assets, natural capital and minority and majority investments in portfolio companies. We also provide wealth management solutions. Altogether, CapMan employs around 200 professionals in Helsinki, Jyväskylä, Stockholm, Copenhagen, Oslo, London and Luxembourg. We are listed on Nasdaq Helsinki since 2001. www.capman.com