Allianz Real Estate has expanded its logistics footprint in France with the acquisition of a €200m portfolio from AG Real Estate.
The manager said it bought the portfolio of four core assets on behalf of several Allianz group companies and in partnership with AEW.
The assets are located in Réau, Pont-d’Ain, Chaponnay and Onnaing, and offer a total gross leasable area of 188,000sqm.
Hugues Braconnier, head of logistics, Allianz Real Estate, said: “Our investments in grade A logistics portfolios in prime locations continue to grow, consolidating our position in a dynamic market, and we are delighted to have been able to strengthen our relationship with AEW, a trusted partner with rich experience in the French logistics market.
“Logistics occupies a central role in our wider investment strategy and the acquisition represents the next step in creating a large logistics platform in France and across Europe.”
Logistics accounted for €6.6bn of the firm’s global €67.1bn real estate assets under management as at 30 June 2019.