Patrizia Immobilien has purchased two logistics portfolios in Germany and France from vendors including Belgian real estate investor Montea for an undisclosed sum.
The acquisitions were carried out by its Amsterdam-based logistics team for the pan-European logistics fund Patrizia Logistik-Invest Europe I.
'We are consistently implementing our investment strategy and are acquiring modern real estate and the changing requirements of the Internet portal, which support the different customers in the realignment of their sales networks,' commented Roger Peters, managing director of Patrizia's logistics team.
The German logistics assets, covering around 75,000 m2 of space, comprise new facilities in Hanover, Bremen, Karlsruhe and Frankfurt am Main. They are currently being developed in cooperation with developer Panattoni Germany.
In France, Patrizia purchased a portfolio of three properties from Belgian real estate company Montea. The properties are located in Paris, Orleans and Cambrai (Nord Pas de Calais) and cover some 102,000 m2.
Patrizia currently manages logistics properties worth around €220 mln across Europe.
'Given the great growth opportunities in this area and the strong demand from institutional investors for European logistics properties, we were able to significantly expand our commitment to this asset class,' said Arthur Tielens, managing director of Patrizia's logistics division. 'We are pleased with the trust our investors have in our logistics fund. In view of the fact that we have already identified other objects identified for the acquisition, we expect the target volume of €500 mln to be achieved soon,' concluded Tielens.
