CBRE buys logistics site near Berlin

CBRE Global Investors has bought a 22,445 m2 logistics site in Falkensee, west of Berlin, from listed German company Gateway Real Estate.

The site is fully let to logistics firm BLG on a long lease with a net initial yield of 6.8% and has been bought on behalf of an unnamed client.

‘Our client is in the process of repositioning its real estate portfolio and diversifying across Europe,’ said John Ozinga, head of separate accounts continental Europe at CBRE.

CBRE recently bought into Italian shopping centre Limbiate and a logistics asset in Pusignan, France, for the same client.