CBRE Global Investors has acquired two logistics assets in France on behalf of Zurich Insurance Group Germany.
The global real assets manager said deals include the forward funding of a logistics building in Mauchamps, Paris from the developer JMG Partners and the acquisition of a new 36,000sqm asset in Lyon from 6ème Sens Immobilier.
Financial details were undisclosed.
Riccardo Cobianchi, the head of real estate at Zurich Insurance Group Germany, said: “These acquisitions demonstrate our confidence in the European logistics real estate market. Zurich is currently growing its European exposure into logistics and residential given the diversification benefits and very positive outlook driven by the growth in e-commerce and supportive market fundamentals.
“This acquisition is another example of how we are embedding ESG principles in our investments. Our long-term goal is to develop a portfolio which is energy efficient and that enhances the wellbeing of tenants in local communities.”
Gautier Beurnier, country manager France, CBRE Global Investors, said: “These acquisitions fit Zurich’s investment strategy of targeting prime high-quality logistics assets and confirms our appetite for assets like these, that are located in the most dynamic markets in France and Europe.
“We have further increased our exposure to one of Europe’s prime logistics markets and we continue to actively look for opportunities in this sector.“
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