CBRE Global Investors, acting on behalf of the CBRE Logistics Property Fund Europe (“LPFE”), has sold four logistics assets in France to The Carlyle Group, on behalf of investment funds that it advises.
The four industrial properties cover 137,888 sqm of space, 62.1% of which is occupied by seven tenants. Each property is highly accessible given all of them are located near main motorways with excellent car and truck parking facilities at each of them.
Three of these properties are located in the established logistics hubs of Bondoufle, Combs-la-Ville and Marly surrounding Greater Paris. The fourth property is located in Toul, a well-established logistics submarket of Nancy in the North East of France.
Demand for industrial assets remains high in France due to sustained growth within the ecommerce sector and the ongoing economic recovery.
Carlyle intends to grow its presence in France, one of Europe’s largest logistics markets, as well as other Western European markets through additional investments in locations exhibiting attractive supply-demand fundamentals.
Pierre-David Baylac, Fund Manager at CBRE Global Investors, said: “With these four asset sales we have successfully executed our 2017 disposal plan with seven assets sold last year and almost completed the exit plan for LPFE.”
Marc Antoine Bouyer, Managing Director, Carlyle Europe Real Estate, added: “This acquisition represents one more step in our logistics assets investment strategy which is focused on acquiring and actively managing high-quality facilities located in several established European logistics markets. These additional French assets will be integrated into Carlyle’s French logistics platform which now exceeds 415,000 sqm with almost 90% of its value now concentrated around the Paris, Lyon and Marseille markets.”
Carlyle was advised by DLA Piper, Darrois Villey Maillot Brochier and Attal & Associés for the transaction with CBRE and Expansion providing strategic and asset management advice. The acquisition has been financed through a combination of equity and debt, with HSBC providing a financing facility.
CBRE Global Investors was advised by Etude Allez & Associés, Environnance, Virtuo and Groupe Elypse.
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For further information:
Lisa Ramsay
Corporate Communications EMEA
Phone: +44 207 809 9098
Steele &Holt for The Carlyle Group
Daphne Claude & Dominic Riding
Phone :+33(0) 6 66 58 81 92 / +33(0) 6 57 48 83 24
FTI Consulting for The Carlyle Group
Richard Sunderland / Richard Gotla/ Eve Kirmatzis
Phone: +44 (0)20 3727 1000
About CBRE Global Investors
CBRE Global Investors is a global real estate investment management firm with $98.3.6 billion in assets under management* as of September 30, 2017. CBRE Global Investment Partners is a division of CBRE Global Investors that delivers investment solutions using private funds, secondaries, co-investments and joint ventures, partnering with leading operators and fund managers for each strategy.
CBRE Global Investors is an independently operated affiliate of CBRE Group, Inc. (NYSE:CBG). It harnesses the research, investment sourcing and other resources of the world’s premier, full-service commercial real estate services and investment company for the benefit of its investors. CBRE Group, Inc. has more than 75,000 employees in approximately 450 offices (excluding affiliates) worldwide. For more information about CBRE Global Investors, please visit www.cbreglobalinvestors.com.
CBRE Global Investment Partners Limited is the Alternative Investment Fund Manager (AIFM) for ECF and is authorized and regulated in the United Kingdom by the Financial Conduct Authority.
*Assets under management (AUM) refers to the fair market value of real estate-related assets with respect to which CBRE Global Investors provides, on a global basis, oversight, investment management services and other advice, and which generally consist of investments in real estate; equity in funds and joint ventures; securities portfolios; operating companies and real estate-related loans. This AUM is intended principally to reflect the extent of CBRE Global Investors’ presence in the global real estate market, and its calculation of AUM may differ from the calculations of other asset managers.
About The Carlyle Group
The Carlyle Group (NASDAQ: CG) is a global alternative asset manager with $174 billion of assets under management across 306 investment vehicles as of September 30, 2017. Carlyle’s purpose is to invest wisely and create value on behalf of its investors, many of whom are public pensions. Carlyle invests across four segments – Corporate Private Equity, Real Assets, Global Market Strategies and Investment Solutions – in Africa, Asia, Australia, Europe, the Middle East, North America and South America. Carlyle has expertise in various industries, including: aerospace, defense & government services, consumer & retail, energy, financial services, healthcare, industrial, real estate, technology & business services, telecommunications & media and transportation. The Carlyle Group employs more than 1,550 people in 31 offices across six continents.
About Carlyle Europe Realty:
Carlyle Europe Realty Fund (CER) is a special limited fund formed to invest in a thematic and targeted way in real estate and real estate related assets and companies primarily in the United Kingdom, France and Germany, as well as Belgium, Denmark, Finland, Ireland, Italy, Luxembourg, Norway, Portugal, Spain, Sweden and the Netherlands pursuing an opportunistic investment and management strategy. The CER investment team is led by European real estate veteran Peter Stoll and a senior team that averages over 17 years of European principal investing experience. The CER Team features an on-the-ground presence in key locations in the United Kingdom, France and Germany and a pan-European investment team based in London, as well as benefitting from the global resources of Carlyle.
