This portfolio includes assets spread over 5 European countries, including Germany (45%), France and the Netherlands (45% between both), with an additional 10% in the UK and Poland.
According to Spanish Real Estate, the portfolio is totally let out with medium term arrangements of more than eight years.
Laurent Jacquemin, Director of European Operations at AXA IM – Activos Reales, notes, “We very much like Gramercy’s portfolio. It is a great opportunity to buy new assets with good tenants and long term contracts in good locations,” quotes the same source. In his opinion, the group is focussing on logistics portfolios between 300 and 1,000 million euros, and confirms that it has returned to the logistics market.
The agreement was reached in the name of a consortium of clients, including the insurance companies AXA and AXA Core Europa, a Pan European real estate fund.
Photo: Commercial Property Executive