The newly created platform will initially comprise over 200, predominantly last-mile, logistics assets totaling over two million square meters of lettable area, which are primarily owned by funds managed by Blackstone Real Estate. Headquartered in Stockholm, the portfolio will be concentrated in urban hubs including Stockholm, Copenhagen and Helsinki.

Blackstone has hired Mikael Freudmann as a senior adviser to the firm to support the build out of Norla ahead of it becoming operational. Based in Stockholm, he brings more than 20 years of Nordic real estate investment and asset management experience, including as Partner and CEO Sweden at Fokus Nordic and co-founder of Scius Partners.

James Seppala, Head of Real Estate Europe at Blackstone, said: "Logistics is one of our highest conviction, long-term investment themes, supported by e-commerce growth, evolving supply chains and limited new supply of well-located urban warehousing. As the sector has matured, we are seeing investors increasingly seek more granular exposure by geography and asset type. The launch of a dedicated Nordics last-mile platform reflects that evolution, and the platform will have a clear mandate to address increasing customer demand across the region."

The company is expected to become operational in 2027.