The Carlyle Group has acquired a portfolio of 27 distribution logistics assets in France and Germany on behalf of its €540m pan-European real estate fund.

The portfolio is 98% occcupied, encompasses 158,000sqm of logistics space and was acquired through a sale and leaseback.

Equity was provided by the Carlyle Europe Realty fund.

Marc-Antoine Bouyer, managing director on the Carlyle Europe Realty advisory team, said: “This acquisition exemplifies our strategy of targeting well located, high-quality assets in the distribution logistics sector, which have seen rapidly growing delivery volumes accelerated by strong growth in e-commerce.

“We are delighted to grow our exposure to this fast-growing segment across France and Germany, two countries that are core to our investment strategy in Europe.”