J.P. Morgan Global Alternatives acquires €540m pan-European logistics portfolio

A fund managed by J.P. Morgan Global Alternatives, the alternative investment arm of J.P. Morgan Asset Management, has acquired a €540 million ($647 million) portfolio of logistics assets in the United Kingdom, France and Ireland from Mountpark Logistics EU Sarl.

One of Europe’s largest logistics transactions in the last 12 months, the portfolio of 11 properties was acquired in two phases. It comprises approximately 4 million square feet of BREEAM Excellent or Outstanding rated logistics space in four prime locations. Each property has been designed and constructed to deliver operational efficiency and to support customers’ policies on environmental sustainability as well as employee and community welfare.

Recently completed or reaching completion, the buildings were developed by Mountpark and pre-let to occupiers seeking to expand their operations and upgrade their supply chain. The portfolio has a weighted average lease term to expiration of 15 years and an ave