CBRE Global Investors has completed the acquisition of a logistics platform in Saint-Vulbas, France for a net initial yield of 7.0%. The asset has been acquired on behalf of one of its separate account clients from AXA Real Estate, on behalf of one of its clients.
The 25,130 m² Grade A logistics platform is located close to Lyon, in the Plaine de L’Ain logistics park. The asset was constructed in 2007 and is fully let to French listed group “Rexel” on a long-term lease.
Commenting on the transaction, Jeroen de Grunt, Portfolio Manager, Separate Accounts Continental Europe, CBRE Global Investors said: “We have acquired an asset that is located in one of the most important logistics submarkets of Lyon.
The asset fits our clients portfolio strategy to enhance the direct return, and to further increase its logistics exposure in the main European hotspots.
Source: CBRE Global Investors