PATRIZIA PanEuropean Property Limited Partnership has acquired three logistics assets in France on behalf of its institutional clients, reaching a total gross asset value of €1 billion ($1.1 billion).
PATRIZIA’s flagship, open-ended, core balanced fund recently acquired two warehouses in Lyon and one in Strasbourg from the international logistics group Kuehne & Nagel in an off-market transaction, for an undisclosed sum. The sale-and-leaseback of the 34,000-square-meter (365,973-square-foot) portfolio, which also includes Kuehne & Nagel’s new French headquarters, is based on a nine-year green lease and complies with the French government’s energy consumption reduction targets.
“Despite the current uncertain economic climate in Europe, we are able to source and invest in highly attractive assets like these by combining PATRIZIA’s proprietary data intelligence tool, the Logistics Impact Solution (LIS), with local expertise across Europe. We expect dema
