German asset manager DWS has sold two logistics properties in Germany to the real estate arm of French firm Ofi Invest.
Ofi Invest Real Estate has invested an unspecified sum to acquire the two fully-let, cross-dock logistics facilities in Cologne and Kleinmachnow.
The properties, built in 2016, provide over 15,000sqm of lettable space and parking.
Grégoire Bailly-Salins, head of transactions and business development Europe at Ofi Invest Real Estate, said: “We are pleased to announce the acquisition of this last-mile cross-dock logistics portfolio extremely well located in two major European urban aeras.
“This acquisition is in line with our selective investment strategy, focusing on high-quality assets and locations, offering secured long-term cash flow underpinned by a strong covenant operating as a market leader in the [courier, express and parcel] sector.”
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