ProLogis European Properties Fund II (PEPF II) has signed an agreement with Eurocommercial Properties for the purchase of two class-A logistics buildings located in the south-east and west of Paris. The first property, with a surface of 20,000 m2, is located in Lieusaint along the Paris-Lyon highway. The property is let to the toy retailer Grande Récré. The second asset, with a surface of some 28,600 m2, is located in Saint-Ouen-l’Aumône, in the Val-d’Oise region, along the Paris-Le Havre highway. The property is let to Staci and Lancel.
ProLogis European Properties Fund II (PEPF II) has signed an agreement with Eurocommercial Properties for the purchase of two class-A logistics buildings located in the south-east and west of Paris. The first property, with a surface of 20,000 m2, is located in Lieusaint along the Paris-Lyon highway. The property is let to the toy retailer Grande Récré. The second asset, with a surface of some 28,600 m2, is located in Saint-Ouen-l’Aumône, in the Val-d’Oise region, along the Paris-Le Havre highway. The property is let to Staci and Lancel.
In addition to the French deals, the fund recently acquired a 30,400 m2 building in its ProLogis Park Coventry park in the UK and a 25,700 m2 property 50 km south of Milan. The Italian asset is leased to logistics firm Valtidone Immobiliare. In a statement, Prologis said the fund has invested a total of EUR 74 mln to purchase the four assets with total space of 105,000 m2. ‘These strategic deals reinforce our portfolio in Europe and show our capacity to invest in buildings with strong added value,’ said Simon Nelson, Senior Vice President of Funds and Acquisitions in Europe. PEPF II currently has a portfolio of 118 assets, with 2.8 millions m2 of space across 11 countries.
