Real IS has bought a logistics portfolio in France from AXA IM – Real Assets for an undisclosed sum.
Real IS said it has acquired the fully-let portfolio of three logistics properties in Mer nearby Orléans for its BGV VIII EUROPA and REALISINVEST EUROPA real estate funds.
The portfolio has a rental area totalling around 123,000sqm and a total storage area of 118,000sqm.
Axel Schulz, global head of investment management of Real IS, said the high quality of the buildings and the tenants, along with the location and transport connections, make the properties compelling.
“Orléans is France’s fourth largest logistics market after Paris-Île-de-France, Lyon and Lille.
“Investing in the French logistics market has enabled Real IS to give its customers the possibility of participating the growing importance of e-commerce,” Schulz said.
Tobias Kotz, head of client relations and capital funding of Real IS, said The French logistics property represents the sixth investment for REALISINVEST EUROPA since its launch in November 2019.
Kotz said the acquisition has extended the fund’s regional diversification by adding a new country: Along with investments in Germany, the Netherlands and Austria, it now has one in France.
To read the digital edition of the latest IPE Real Assets magazine click here.