CBRE Global Investors, on behalf of the CBRE European Industrial Fund (EIF) has acquired a logistics warehouse located in La Chapelle D'Armentieres, near Lille. The vendor was Groupe Idec Invest.
The grade A logistics property, developed by Groupe Idec, has a total area of 25,000m² and has four units. The four units are already let to two tenants. One of the tenants is a specialist in the wine industry while the other is in the pet food distribution.
Pierre-David Baylac, Fund Manager of EIF, CBRE Global Investors said: "We are delighted to have worked with Groupe Idec and acquired this high quality property. This investment represents the 8th logistics building acquired in France over a 12-month time period and the 12th in Europe for EIF. This is our first investment in the northern region of France, which is a major hub in the national and international supply chain."
Lionel Mary, CEO of Groupe Idec Invest, added: “Thanks to a very effective collaboration with the CBRE Global Investors team, the sale of the logistics property to CBRE European Industrial Fund has been successfully completed according to a mutually agreed schedule. The sale is part of the current arbitrage strategy we are undertaking in order to accelerate the development and the diversification of our group.”
In this transaction Groupe Idec Invest was advised by Sorovim while EIF was advised by Allez & Associés, Bird & Bird, Winston & Strawn, Gelé RED, Environnance and ICF
