Prologis fund acquires 137,500 m2 portfolio in Marseille

US logistics giant Prologis has acquired five buildings totalling 137,440 m2 in Marseille, southern France.

Financial details were not disclosed.

The acquisition was carried out on behalf of the Targeted European Logistics Fund (PTELF) and increases the size of Prologis’ portfolio in the Clesud area to 13 buildings totalling 361,880 m2. It also extends the portfolio into two new locations, Saint-Martin-de-Crau and Fos-sur-Mer, Prologis said in a statement.

'This was a great opportunity to purchase high-quality assets that are let to an established retail company and which complement PTELF's existing portfolio,' commented Ali Nassiri, fund manager of PTELF. 'These investments align well with the fund's strategy to reinforce its presence in long-term global markets.'

Four of the five buildings will remain occupied by Maisons du Monde, a retail company specialising in furniture and decorative objects, on new 12-year leases.

François Rispe, regional head of southern Europe at Prologis, added: 'This acquisition reinforces our presence in Marseille, which is a growing market with significant potential. At the same time, we are delighted to welcome Maisons du Monde as a new customer.'

Prologis was assisted by Vianney Laporte, Etude Attal & associés, and Franklin et associés office. CBRE advised the vendor on the transaction.