Logicor agrees to acquire 12 logistics assets in Germany, Spain and the Benelux
15 Mar 2016
Logicor, a leading owner of modern logistics facilities in Europe, announces that it has agreed to acquire 12 logistics assets in Germany, Spain and the Benelux from Goodman European Partnership (GEP), a leading European logistics real estate investment vehicle.
The 496,000 sqm portfolio comprises six assets in Germany, three in Spain and three in the Benelux. Existing tenants across the portfolio include third party logistics service providers (3PLs), manufacturers and engineering firms.
The German distribution facilities total 362,000 sqm and are predominantly located in national logistics clusters including Cologne and Berlin. The Spanish assets total 82,000 sqm and are located in Madrid and Barcelona. The Benelux assets total 52,000 sqm and are strategically located in Harderwijk, Venray (Netherlands) and Turnhout (Belgium).
Logicor’s Germany platform now totals in excess of 2 million sqm, Logicor’s Spain platform now totals in excess of 1 million sqm, whilst Logicor’s Benelux platform totals in excess of 500,000 sqm.
Mo Barzegar, CEO & President of Logicor said:
This high-quality portfolio acquisition is a continuation of our growth strategy – the result is a stronger Logicor position in several key European logistics markets as well as deeper relationships with new and existing customers.
“The sale of these facilities reflects the ongoing review of our portfolio, and is in line with our strategy to selectively dispose of assets and reinvest in new properties,” said Emmanuel Van der Stichele, Goodman Director of Investment Management.
Logicor, Blackstone's European logistics platform, is one of the premier real estate companies in Europe focusing on the ownership and operation of modern logistics and distribution properties. Logicor currently owns 13 million square metres of space in properties across key European markets.