Patrizia expands logistics portfolio via acquisition in France
Patrizia has added a newly built logistics warehouse in Andrézieux-Bouthéon, France to its portfolio.
The real estate manager said it bought the 61,000sqm asset on behalf of one of its Pan-European logistics funds from Goodman France for an undisclosed sum.
The asset is located on the ZAC de l’Orme industrial estate and is fully-let to C-Logistics, a logistics affiliate of Cdiscount, on a long-term lease.
The acquisition follows Patrizia’s recent acquisition of a portfolio of logistics properties in the Netherlands for €130.8m; a 57,000sqm Dutch logistics facility in Waalwijk; and portfolio of six logistics properties in Germany for €59m.
Nicolai Soltau, fund manager, logistics Europe at Patrizia, said: “This latest acquisition adds another high-quality and well-located core asset to our portfolio that will benefit from the robust e-commerce activity in western Europe.
”C-Logistics has a strong covenant so to sign them on a long-term lease guarantees secure and stable cash flows for our investors in the years to come.”