Monday, 18 May 2015
Rockspring acquires French logistics portfolio for €48 mln (FR)
Rockspring Property Investment Managers LLP has acquired a French logistics portfolio for €48 mln on behalf of the Rockspring TransEuropean Property Limited Partnership V from CBRE Global Investors.
The portfolio comprises 98,000 m² across four separate assets. Two of the properties are situated north of Paris, in Moussy-le-Neuf and Verneuil-en-Halatte the third is in Saint-Quentin-Fallavier, which is close to Lyon and the fourth is in Saulce-sur-Rhone, which is between Valence and Montelimar. The portfolio is currently 95% leased to tenants including DSC, a subsidiary of French multi-national Saint-Gobain, European electrical retailing group Darty, and the transport and logistics providers Transmec Group and 3PL.
The transaction represents TransEuropean V’s third logistics acquisition in France, adding to Paris Oise Logistics Park in Longeuil Sainte Marie north of Paris and Dagneux Logistics Park in Lyon, and increases the Fund’s French logistics holdings to more than 280,000 m².
Paul Hampton, Rockspring Partner and Fund Director of the TransEuropean series said: “As we complete the investment phase for TransEuropean V, this portfolio provides a strong addition to the existing assets in the key French logistics zones and is in alignment with the Fund’s investment strategy to acquire well-located, high-quality real estate in markets which have supply-side constraints and good prospects for rental growth.”
Source: FTI Consulting