Pan-European urban logistics platform Crossbay has invested €30m to buy four properties in France.
The acquisition of assets sites in the Paris and Marseille regions, totalling 30,000sqm of space, lifts Crossbay’s France portfolio to 24 assets worth €210m in total, the company said.
Crossbay said it aims to secure €500m in assets under management in France within the next two years.
Louis Radiguet, managing director of Crossbay France, said: “After a successful 2021, 2022 should prove even more dynamic with a secured pipeline currently being executed representing approximately 40,000sqm.
“We will continue to add to our portfolio with ideally located last-mile logistics assets underpinned by solid fundamentals and strong value creation potential.
“The Paris region, France’s largest market, will remain a priority for Crossbay. However, we will also be targeting other main French conurbations as part of a strategy of accelerated geographical diversification.”
The acquisition is the latest in Crossbay’s €1.5bn expansion strategy across Europe’s core real estate markets. Its portfolio includes locations in Germany, Poland, Italy, France, Spain, Belgium and The Netherlands, where it recently acquired four sites.
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