IDI Gazeley, the logistics unit of US-based Brookfield Property Partners, has extended its network with the acquisition of a 13-site portfolio in France and Hungary.
IDI Gazeley, the logistics unit of US-based Brookfield Property Partners, has extended its network with the acquisition of a 13-site portfolio in France and Hungary.
The logistics and distribution units cover a total area of 228,000 m2 and comprise 11 sites in the Paris and Lyon metropolitan areas, as well as two in the Budapest region.
The portfolio was bought from US-based global investment management company Carval Investors. The financial detail were not disclosed, but Property Week cited the price as around £100 mln (€127 mln).
The facilities are occupied by supermarket group Lidl and European distributors FM Logistics, Norbert Dentressangle and Kühne & Nagel.
The purchase follows IDI Gazeley’s acquisition in October of three class-A logistics warehouse assets in Frankfurt, Milan and Marseilles with a total area of 97,400 m2.