DWS, acting on behalf of its institutional open-ended Pan European, core real estate fund, has acquired a logistics portfolio comprising six assets across France for €92.25m.
Located in Dreux, Chanteloup-les-Vignes, le Coudray-Montceaux, Baule, Bruges and Lhospitalet, the logistics portfolio totals more than 109,000m² of grade A warehouse space offering cold and dry storage and multi-dock options. Positioned mostly in dynamic logistics sub-markets with good transportation links, the portfolio is currently 99% let to a diverse tenant mix including perishable goods and manufacturing, supply chain distributors.
Targeting a diversified portfolio of core assets across Europe, this is the second acquisition for DWS’s institutional open-ended Pan European, core real estate fund. It follows the recent acquisition of a residential portfolio comprising 12 assets in central locations across the Netherlands.
“The portfolio aligns well with the geographic and target allocations of our fund,” said Jessica Hardman, Head of Real Estate, UK at DWS. “Tenant demand for regional logistics should remain strong given a shortage of grade A space and improving economic conditions in France.”