German fund manager Deka Immobilien has acquired a logistics portfolio in northern France for €136 mln through a sale and leaseback transaction.
The vendor and occupier is Logs, a logistics provider in northern France.
Two of the properties are located in Wattrelos in the Urban Community of Lille Métropole, and have a total leasable space of almost 130,000 m2.
The third is located in Maubeuge, a town on the French-Belgian border well-known for its automobile industry, and has a leasable space of around 25,000 m2.
While two of the logistics centres were completed in mid-2020 and are already in use, the largest centre in Wattrelos is expected to be completed in June 2022.
The three logistics centres are intended to become part of the portfolio of the WestInvest TargetSelect Logistics sector fund, which is aimed at institutional investors.
Deka said that the completed building in Wattrelos has been certified Breeam Very Good, and that it would seek to achieve corresponding certification for the development project in Wattrelos.