Ivanhoé Cambridge has paid an undisclosed amount to buy a portfolio of 17 logistics assets in France from The Carlyle Group.

The real estate arm of Caisse de dépôt et placement du Québec has bought the 430,000sqm logistics portfolio located in the main hubs of Paris and Lyon, as well as the portfolio’s Hub&Flow brand name, the companies announced.

Karim Habra, head of Europe and Asia-Pacific, Ivanhoé Cambridge, said: “This strategic investment marks a new chapter of our expansion in continental Europe with the aim of creating a leading logistics platform focused on the key European hubs.

“Like Hub&Flow, we intend to invest in top-quality assets that can benefit from future value creation. This portfolio, located at the heart of the main consumer areas, will enable Ivanhoé Cambridge to respond impeccably to the very strong demand generated by e-commerce.”

Peter Stoll, managing director and head of the Carlyle Europe Real Estate team, said: “We are delighted to have been able to work with Ivanhoé Cambridge for the sale of the Hub&Flow portfolio.

“This transaction marks the culmination of a major acquisition and asset management effort that has resulted in the creation of an institutional quality logistics portfolio focused on the Paris and Lyon markets, benefiting from a buoyant market environment in which we intend to remain active.”