Thursday, 4 December 2014
IDI Gazeley announce major logistics portfolio acquisition from CarVal Investors (FR/HU)
IDI Gazeley (Brookfield Logistics Properties), a leading global investor and developer of logistics warehouses and distribution parks, has confirmed the acquisition of a portfolio of logistics assets totalling 2.4 million ft² (228,000 m²) comprising of 13 buildings located in France and Hungary.
The acquisition of the portfolio was completed at the start of December from CarVal Investors and includes:
· 11 buildings located with the metropolitan areas of Paris and Lyon, the prime two distribution markets in France
· 2 buildings located in the prime sub-market of Budapest, Hungary with class-A specifications
The portfolio is leased to a variety of pan-European tenants, including Geodis, Lidl, FM Logistics, Norbert Dentressangle and Kuehne & Nagel, many of which IDI Gazeley already counts as valued customers.
Speaking about the announcement Chief Acquisitions Officer Nick Cook said “As we grow our business and expand our portfolio of logistics assets under management, the acquisition of this strategic portfolio represents an important addition.”
Frédéric Laurent, Managing Director at CarVal Investors, commented “We are delighted to have concluded this successful transaction with IDI Gazeley. Having opportunistically acquired the portfolio in 2011, we achieved our goal to sell this high quality portfolio to a leading investor in logistics warehouses that will take it to new levels through their strong tenant relationships”
Source: IDI Gazeley