CBRE Global Investors has successfully completed the acquisition of a four-asset core logistics portfolio near Paris, France, on behalf of one of its funds.
The four properties totaling 100,000m2 are located in prime regions for logistics sought by investors and tenants alike, south and east of Paris. St. Cyr en Val is located south of Paris in Orléans while Lognes, which has two buildings and Croissy Beaubourg are both located in Marne La Vallée, just east of Paris.
The portfolio is rented to prime tenants with an average lease length greater than six years and generates annual rents of around €5m.
John Mulqueen, head of transaction EMEA, CBRE Global Investors said, “The acquisition of this portfolio furthers our strategy to secure long-term hold logistics portfolios within strong and resilient economies such as France.”
Gautier Beurnier, head of transactions France, CBRE Global Investors said, “The quality of the tenants, locations and buildings resulting from Argan’s professional management allows the fund to pursue its strategy of investing into assets well adapted to users and investors alike while generating secured revenues at a particularly attractive risk/return profile.”
CBRE Global Investors has €4.8bn of non-listed logistics assets under management with more than 400 logistics assets across 11 countries and close to 1,000 tenants. Last year it completed €6.6bn of direct transactions in EMEA, representing an approximate 30% increase on 2014. The total breaks down to €3.1bn of acquisitions and €3.5bn of disposals, as the company capitalised on strong appetite from buyers and an increased level of stock coming to the market.
