U.S. real estate investment manager Realterm has acquired a 15-property logistics portfolio in France.
Located around major French cities such as Paris, Marseille, Toulouse and other key urban areas, the portfolio of cross-dock properties totals more than 73,000 square meters (785,765 square feet) and is fully leased to a roster of premier tenants, including XPO Logistics.
"The French logistics market is characterized by a strong supply/demand imbalance, with record low vacancy and incredibly strong demand. Very few new properties are coming to market given the limited availability of land and the difficulty in obtaining permits," said Hugues Tallandier, head of investments, Southern Europe, Realterm. "Transportation-advantaged logistics facilities accelerate the efficient flow of goods through the supply chain and are in strong demand across Europe. As a result, rents are rising, making this portfolio a notable addition to our European holdings."
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