Logicor acquires 19 logistics assets in France and Germany
19 Jun 2015
Logicor, a leading pan-European owner and operator of logistics properties, announces the acquisition of 19 logistics assets in France and Germany from Goodman European Logistics Fund (GELF), a leading European logistics real estate fund.
The 479,000 sqm logistics portfolio comprises ten assets in France and nine assets in Germany. Tenants across the portfolio include third-party logistics providers (3PLs) along with various retailers.
The French distribution facilities total 300,000 sqm and are predominantly located in Lille, Paris and Lyon. Logicor’s French platform now totals 2 million sqm and is the second-largest logistics portfolio in the country. The German assets total 179,000 sqm and increase Logicor’s German portfolio to 1.2 million sqm.
Mo Barzegar, CEO and President of Logicor, said:
This high-quality portfolio is an excellent fit for our European logistics platform as it deepens our market penetration and key customer relationships across strategic logistics hubs within France and Germany.
Emmanuel Van der Stichele, GELF Fund Manager, said:
With this sale we are delivering on our strategy of selectively rotating assets within the GELF portfolio and recycling the capital to new prime properties from the strong Goodman development pipeline as well as to selected market acquisitions.