LONDON, 2 March 2016 – 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 100,000 sqm 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 EUR 5 million.
John Mulqueen, Head of Transactions EMEA for 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 for 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 in assets well-adapted to users and investors alike while generating secured revenues at a particularly attractive risk/return profile.”
CBRE Global Investors is a leading logistics investment manager in EMEA with EUR 4.8 billion of non-listed logistics assets under management with more than 400 logistics assets across 11 countries and close to 1,000 tenants.
CBRE Global Investors was advised by CBRE, Etude Lasaygues and Linklaters.