LONDON—CBRE Global Investment Partners, has acquired a European logistics portfolio for about $389 million (€346M) from TH Real Estate.
The portfolio consists of seven logistics properties comprising about 599,600 square feet (more than 5,700 sqm) of modern, institutional quality space located in prime logistics corridors in France, the Netherlands, Spain and Germany. The vendor was TH Real Estate, who in turn represented two clients – Warburg HIH Invest & TIAA-CREF.
"Logistics is a preferred sector of GIP and finding the right assets and operating partner is key in our search,” said Jeremy Plummer, head of CBRE GIP. “One of the key attractions of this pan European logistics portfolio was the pre-specification of assets enabling us to underwrite not only our operating partner but also the underlying real estate. We believe the portfolio will deliver an attractive income return for our investors, while our operating partner can also successfully grow net operating income. "
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David Phillips
David Phillips is a Chicago-based freelance writer and consultant with more than 20 years experience in business and community news. He also has extensive reporting experience in the food manufacturing industry for national trade publications.
