CBRE Global Investors pays €88m for four logistics properties in Paris

CBRE Global Investors has acquired four logistics properties around Paris, for a net purchase price of €88.2 million ($91.7 million).

The assets were purchased on behalf of one of the firm’s separate account clients, from a fund managed by AXA Investment Managers – Real Assets.

The four freehold assets were built during the period 2006–2009, comprising approximately 1.5 million square feet in total. They are located in Brie-Comte-Robert, Saint-Germain les Arpajons, Chelles and Marolles. Three assets are fully let to single-tenant occupiers, whereas the smallest asset located in Marolles is currently vacant.