U.S. property group buys European logistics portfolio

GreenOak has purchased 22 logistics assets in France and Spain totaling 720,000 square meters (7.75 million square feet). 

The investments reflect GreenOak’s strategy to acquire assets in Europe’s key logistics nodes and form part of GreenOak Europe Fund II, which closed at €656 million ($774 million) of equity and, alongside co-investment capital, enables GreenOak to invest more than €900 million ($1.1 billion) of equity into European real estate assets.

The French investments, acquired through two portfolio transactions, comprise 20 warehouses and cold storage assets, primarily located around the main hubs along the north-south primary logistics corridor between Paris, Lyon and Marseille. GreenOak has a diversified group of leading French businesses as tenants, including Carrefour, Easydis, CDiscount and Dachser.