DWS, formerly Deutsche Asset Management, has acquired a logistics portfolio comprising six assets across France for €92.25 mln on behalf of its institutional open-ended pan-European core real estate fund.
Located in Dreux, Chanteloup-les-Vignes, le Coudray-Montceaux, Baule, Bruges and Lhospitalet, the logistics portfolio totals more than 109,000 m2 of grade A warehouse space.
'The portfolio aligns well with the geographic and target allocations of our fund,' said Jessica Hardman, head of real estate, UK at DWS. 'Tenant demand for regional logistics should remain strong given a shortage of grade A space and improving economic conditions in France.'
Positioned mostly in dynamic logistics sub-markets with good transportation links, the portfolio is currently 99% let to a diverse tenant mix including perishable goods and manufacturing, as well ass supply chain distributors.
This is the second acquisition for DWS’s institutional open-ended pan-European, core real estate fund which targets a diversified portfolio of core assets across Europe. It follows the recent acquisition of a residential portfolio comprising 12 assets in central locations across the Netherlands.
