CBRE Global Investment Partners acquires €346 mln logistics portfolio (EU)

CBRE Global Investment Partners (GIP) has acquired a European logistics portfolio for €346 mln. The portfolio consists of seven logistics properties comprising over 55,700 m² of modern, institutional quality space located in prime logistics corridors in France, the Netherlands, Spain and Germany.
The vendor was TH Real Estate, who in turn represented two clients – Warburg HIH Invest & TIAA-CREF.
The assets were previously owned by two Warburg HIH Invest investment funds, Warburg - Henderson Pan-Europa Fonds Nr.1 and Nr. 3 as well as from TIAA-CREF’s European property portfolio, all managed by TH Real Estate.
CBRE Global Investment Partners will retain TH Real Estate to manage the portfolio.
Jeremy Plummer, Head of CBRE Global Investment Partners commented: "One of the key attractions of this pan European logistics portfolio was the pre-specification of assets enabling us to underwrite not only our operating partner but also the underlying real estate.”
Source: CBRE Global Investors