CBRE Global Investors has bought a portfolio of German and Polish logistics assets from Hillwood on behalf of undisclosed investors.
The portfolio includes assets in Gdansk and Düsseldorf.
Hillwood, one of the biggest logistics developers in the US, set up offices in Poland and Germany in 2014 with plans to invest €1bn in Europe.
The Dallas-based manager appointed Hubert Michalak in Warsaw and Peter Schuijlenburg in Frankfurt.
Grzegorz Ryszka, head of transactions for Central and Eastern Europe (CEE) at CBRE Global Investors, said: “This portfolio is of top institutional quality, and we have been lucky enough to cherry pick each core asset from an entirely open book from Hillwood.
“Some of the assets are state of the art, some offer a diversified lease expiry profile and some are in the development stage, but what they all have in common is that they sit within Germany and Poland’s key logistics hotspots and Europe’s most important logistics corridor.”
Included in the deal are projects under development in Poland totalling 134,165 sqm and two new developments in Germany totalling 71,684 sqm.
John Mulqueen, head of transactions for the EMEA at CBRE Global Investors, said the company had €1bn to invest in CEE and Germany over the next 12 months.