Asset manager Rockspring has bought the 40,500 m2 Dagneux Logistics Park in Lyon on behalf of property fund TransEuropean V.
Asset manager Rockspring has bought the 40,500 m2 Dagneux Logistics Park in Lyon on behalf of property fund TransEuropean V.
The €21.5 mln deal reflects a net initial yield of 8.2% for two distribution warehouses and an additional 20,000 m2 of adjoining space.
‘The neighbouring parcel of land offers further potential for value creation through the development of new, grade A logistics space,’ said Rockspring’s European director, Charles Baigler.
TransEuropean V has invested around €500 mln in western and northern Europe since its launch in 2012, and has made two other logistics purchases this year: The €21.6 mln Trade Park Zuid Oost in Amsterdam, and the €67.1 mln Zander portfolio across Amsterdam, The Hague, Rotterdam and Utrecht.
Rockspring was advised on the deal by JLL, Landwell, Franklin, Les Notaires du Quai Voltaire and Turnbull, while Parcolog was advised by BNP Paribas.
For more on the sector, see the presentation and videos from the latest PropertyEU European Logistics Briefing.
