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Sign in Sign up for a FREE subscriptionHines European fund buys logistics portfolio in France
Hines has acquired 11 logistics assets spanning 350,000 square meters (3.8 million square feet) across France on behalf of its Hines European Value Fund 2 (HEVF 2), from Auchan, the French multinational retail group.
The acquisition, which is a sale-and-leaseback transaction, marks the first investment in France by HEVF 2, with Auchan, one of France’s leading grocery retailers and distributors, remaining the long-term tenant across the entire portfolio. The 11 assets are located in Paris, Bordeaux, Clermont-Ferrand, Lyon, Nîmes, Strasbourg, Tours and two sites apiece in the Amiens and Lille regions, respectively. Hines France will manage the assets.
The HEVF series invests across the major real estate sectors. HEVF 1 focused on core-plus and value-add office investments, and HEVF 2 is most active in the logistics and living space. With this acquisition, logistics is one of the larger sectoral allocations of the fund.
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