TwentyTwo Real Estate has announced that Corelog has sold its portfolio of French logistics assets to GreenOak Real Estate’s European Logistics Fund. The portfolio comprises seven logistic assets located across the French logistics corridor. The assets, which total 167,000m² and are now nearly fully occupied, were acquired between 2015 and 2017 with an average occupancy rate of 76%. The purchase price was not disclosed.
Daniel Rigny, founder of TwentyTwo Real Estate, said: “Corelog aimed to build up a diversified and high-quality portfolio in anticipation of the growing demand for logistics assets, resulting from the development of e-commerce. Our active management led to the full occupancy of the assets and the generation of a recurring income with growth potential, thus raising interest from long-term investors.”