Global alternative investment manager The Carlyle Group has acquired a high-quality 180,000 m2 logistics portfolio in France from logistics real estate giant Prologis for an undisclosed sum.
The portfolio is currently around 80% occupied and comprises eight modern logistics units with an average construction date of 2003.
Over 80% of the portfolio’s value is located in Paris and Lyon - the two largest consumer & industrial markets in France - and in other established regional markets.
'This acquisition represents a great opportunity to acquire a high-quality portfolio as we look to build a portfolio of European logistics assets that offers a strong income profile with potential capital value uplift,' commented Marc-Antoine Bouyer, managing director at Carlyle Europe Real Estate.
Carlyle said that it intended to grow its presence in France - one of Europe's largest logistics markets - as well as other Western European markets through additional investments in locations exhibiting attractive supply-demand fundamentals, particularly those driven by e-commerce.
'Our ambition in the logistics space is one of a number of strategies that Carlyle is currently pursuing in the UK and mainland European real estate market,' said Peter Stoll, head of Carlyle Europe Real Estate. 'Our priority is to focus on sectors that are driven by demographic trends and/or structural changes to how real estate is owned and used. This investment responds completely to this theme.'
The acquisition was financed through a combination of equity and debt, with HSBC providing a financing facility.
Carlyle was advised by DLA Piper, Darrois Villey Maillot Brochier, PWC, and Attal & Associés on the transaction.
CBRE and Expansion Asset Management provided market and asset management advice respectively.
