Prologis European Properties Fund II has acquired a high-quality logistics facility in an established distribution area of Lyon, France.
The 44,000 m² building at Prologis Park Isle d’Abeau has been acquired from Sofade, a subsidiary of Dentressangle Initiatives. The acquisition boosts Prologis’ portfolio at L’Isle d’Abeau to 20 buildings, totaling 537,800 m² with an occupancy rate of 99.8%.
“L’Isle d’Abeau is one of France’s prime distribution areas providing excellent transport infrastructure and very low vacancy rates,” said Philip Dunne, president of Prologis Europe. “This acquisition complements our existing asset base and strengthens our presence in this active logistics market.”
PEPF II, which was established in August 2007, is one of four European co-investment funds managed by Prologis. As of December 31, 2013, PEPF II's portfolio totaled 5.8 million m².
Prologis is the leading provider of industrial real estate in Europe with approximately 13.7 million m² of logistics and distribution space as of December 31, 2013. In France Prologis’ high-quality portfolio comprises 2.9 million m².
Source: Tavistock Communications