CÃ¢âÂ¬LOGIX Property Fund (Ã¢â¬ÅCÃ¢âÂ¬LOGIXÃ¢â¬Â), the Euro Zone logistics and distribution property fund managed by Aberdeen Property Investors Continental Europe (Ã¢â¬ÅAPIÃ¢â¬Â), has let (10,161 mÃÂ²) in one of its buildings: Ã¢â¬ÅLa Plaine de LÃ¢â¬â¢AinÃ¢â¬Â in the logistic industrial park in Lyon (France) to Geodis Logistics. Geodis is a, well-known, blue chip, international logistics company.
DTZ Lyon together with API advised on the letting of the building.
Following this letting, the CÃ¢âÂ¬LOGIX Portfolio comprising of 425,000 mÃÂ² is now almost fully occupied. The only remaining vacancy is in Nijmegen, the Netherlands which has an area of 8,950 mÃÂ², which represents only 2% of the whole portfolio. The average residual lease length of the portfolio is 7.3 years.
CÃ¢âÂ¬LOGIX invests exclusively in logistics distribution centres at strategic locations in the Netherlands, Germany, France, Spain and Belgium. The fund manager, Aberdeen Property Investors has identified 30 hot spots in these countries as targets for investment. The fund has now invested Ã¢âÂ¬ 252 million in 17 logistics properties (425,000 mÃÂ²) in four European countries.
The target is to expand the portfolio to Ã¢âÂ¬ 400 million before the end of December 2003. Due to this target the fund is open for new investors. Currently ten Dutch and two Scandinavian investors are participating in CÃ¢âÂ¬LOGIX. The fund is transparent for tax purposes and is not quoted on the stock exchange. The minimum investment is Ã¢âÂ¬ 5 million.