Argan sells 110,000 m2 French logistics portfolio to DWS

French logistics developer-investor Argan has announced the sale of a portfolio of six logistics platforms across France to a fund managed by DWS for an undisclosed amount.

The package consists of a total of 110,000 m2 of space, with two assets located in the Paris region and the other four in Bordeaux, Cahors, Dreux and Orléans.
The properties are fully leased with a fix six-year term and generate annual rents of €5.7 mln.

Proceeds from the sale will be used to finance growth, the company said in a statement.

Argan owns a portfolio of 60 logistics assets in France, encompassing 1.6 million m2 of space and valued at €1.3 bn at year-end 2017.


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