CBRE Investment Management has acquired a portfolio of three logistics assets, in Benelux and the Nordics, in a joint venture with the developer and seller, MG Real Estate.

The three assets are in different phases of construction and are located in Belgium, Sweden and Denmark.

CBRE Investment Management said as part of the joint venture agreement, it will have right of first refusal on the future predefined development pipeline of MG Real Estate.

MG Real Estate development pipeline currently comprises six identified projects in Belgium, Sweden and Denmark.

Piet van Poppel, country manager, Belgium at CBRE Investment Management, said: “This was a compelling opportunity to acquire a sizeable portfolio of high-quality logistics assets in supply-constrained and high-demand markets.

“Well located in key logistics hotspots in Benelux and the Nordics, our strategic partnership with MG Real Estate not only offers exposure to three diverse prime logistics markets - Brussels, Malmo, and Frederica - upon completion, but also access to MG Real Estate’s pipeline of assets that meet our investment criteria.”

Ignace Tytgat, CEO of MG Real Estate, said: “This strategic partnership gives MG Real Estate the ability to further consolidate the growth in our logistics portfolio and helps us grow as a developer and investor as well.

“We specifically chose this approach in order to establish and strengthen long-term relationships with tenants, by keeping tenant management in-house.”

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