CBRE Global Investors has bought three French logistics assets off market for a total of €59 mln.
CBRE Global Investors has bought three French logistics assets off market for a total of €59 mln.
The price reflects a net initial yield of 7.7%, and the assets were bought on behalf of separate account clients.
Two of the assets are near Lyon, with a third outside Orleans. Each site has tenants in place.
‘Our selective approach to logistics across Europe is yielding results,’ said Will Rowson, CBRE’s chief investment officer for EMEA. ‘We are approaching €300 mln of logistics acquisitions in 2014 with a sizeable pipeline of transactions still to conclude and with additional client requirements ongoing.’
