Brookfield Asset Management has over the last 12 months invested more than a billion euros in European logistics real estate, the manager said as it announced the acquisition of a 2m sqft portfolio in Germany, Spain and Poland.
Brookfield has paid an undisclosed sum to buy the portfolio of assets from Panattoni.
Brookfield said it has grown its European logistics presence, over the last 12 months, through seven different acquisitions and now has a portfolio of more than 10m sqft.
Globally, Brookfield owns and operates 221 industrial properties. The manager’s development projects total 50m sqft across the US, Europe, Brazil, Korea and China.
Brad Hyler, managing partner and head of European real estate at Brookfield Asset Management, said: “With the acceleration of e-commerce and supply chain reconfiguration, there is tremendous demand for high-quality assets to support businesses with their logistics solutions.
“We look forward to leveraging our experience of building leading industrial property platforms with vertically-integrated operations, development and acquisition capabilities to create a premier European logistics business.”
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