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Carlyle Group acquires four French logistics assets

Published 02 February 2018

CBRE Global Investors, acting on behalf of the CBRE Logistics Property Fund Europe (LPFE), has sold four logistics assets in France to certain investment funds, advised by The Carlyle Group.

The four industrial properties cover 137,888 sqm of space, 62.1% of which is occupied by seven tenants. Each property is highly accessible given all of them are located near main motorways with excellent car and truck parking facilities at each of them.

Three of these properties are located in the established logistics hubs of Bondoufle, Combs-la-Ville and Marly surrounding Greater Paris.  The fourth property is located in Toul, a well-established logistics submarket of Nancy in the North East of France.

Demand for industrial assets remains high in France due to sustained growth within the ecommerce sector and the ongoing economic recovery.

Carlyle intends to grow its presence in France, one of Europe’s largest logistics markets, as well as other Western European markets through additional investments in locations exhibiting attractive supply-demand fundamentals.

Pierre-David Baylac, Fund Manager at CBRE Global Investors, said: “With these four asset sales we have successfully executed our 2017 disposal plan with seven assets sold last year and almost completed the exit plan for LPFE.”

Carlyle Europe Real Estate  managing director Marc Antoine Bouyer said: “This acquisition represents one more step in our logistics assets investment strategy which is focused on acquiring and actively managing high-quality facilities located in several established European logistics markets.

“These additional French assets will be integrated into Carlyle’s French logistics platform which now exceeds 415,000 sqm with almost 90% of its value now concentrated around the Paris, Lyon and Marseille markets.”

Carlyle was advised by DLA Piper, Darrois Villey Maillot Brochier and Attal & Associés for the transaction with CBRE and Expansion providing strategic and asset management advice. The acquisition has been financed through a combination of equity and debt, with HSBC providing a financing facility.

CBRE Global Investors was advised by Etude Allez & Associés, Environnance, Virtuo and Groupe Elypse.

Source: Company Press Release