Goodman has acquired a 20,465 m2 prime logistics property at the Port of Gennevilliers, 10 kilometres from the centre of Paris.
Goodman has acquired a 20,465 m2 prime logistics property at the Port of Gennevilliers, 10 kilometres from the centre of Paris.
The sale was brokered by CBRE on behalf of the seller, the PRD Group.
The property is a new addition to Goodman’s Goodman European Logistics Fund (GELF) portfolio, highlighting the fund’s broader acquisition strategy following its €550 mln equity raise last year.
The property, which includes almost 5,000 m2 of office space, is being leased by DB Schenker, a long-standing customer of Goodman, with a relationship that comprises the development and management of more than 370,000 m2 of logistics space.
Since 2005, the logistics property has served as DB Schenker’s French headquarters. DB Schenker uses this facility as a hub for the distribution of goods coming in and out of Paris.
'This quality acquisition has not only added a landmark asset to our French property portfolio, it has also provided Goodman France with the opportunity to welcome DB Schenker as a new customer. We are excited to build on the strong relationship Goodman has with DB Schenker and we look forward to fostering this relationship in France,' said Philippe Arfi, director of Goodman France.
INVESTMENT BRIEFING
Get the latest market intelligence at PropertyEU's logistics briefings during EXPO REAL on Tuesday 7 October 2014:
14.00 – 14.50: Special Real Estate Forum, Hall C2, Stand
Expert Speakers include
* Emmanuel Van der Stichele, Fund Director GELF, Goodman, Belgium
* Ian Worboys, CEO, P3, Czech Republic
* James Markby, Senior Director, Head of European Industrial & Logistics Investment, CBRE, UK
* Rémy Vertupier, Fund Manager Logistics, AEW Europe, France
* Mo Barzegar, President / CEO, Logicor, Blackstone, UK
* Philip Dunne, President Europe, Prologis, Netherlands
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15.00 – 15.50: Special Real Estate Forum, Hall C2, Stand
Expert Speakers include
* Alexandra Tornow, Associate Director EMEA Research, JLL GmbH , Germany
* Tom Waite, National Director Capital Markets - Logistics & Industrial, JLL London, UK
* Andrès van de Riet, Head of Asset Management, Logicor, Blackstone, UK
* Joseph Ghazal, Managing Director, Head of Capital Deployment Europe, Prologis, Netherlands
* Christopher Garbe, Vorstand Garbe Logistic AG, Garbe Logistic AG, Germany
* Pierre-David Baylac, Fund Manager European Industrial Fund and Logistics Property Fund Europe, CBRE Global Investors, France
