Brookfield, through its European logistics business, has acquired four logistics properties in France, representing about 155,000 square meters or nearly 1.7 million square feet.
Company officials said the buildings are strategically located on major traffic routes. They will be managed by Brookfield's French logistics platform, Castignac, which already has more than 25 assets under management and projects worth over €1 billion.
Dan Benhamou, senior vice president at Toronto-based Brookfield, said: "As we continue to see strong demand for large-scale logistics solutions in Europe, we are delighted to acquire these prime logistics assets in France. These platforms reinforce our significant presence of high-quality warehouses in strategic locations linking France to the rest of Europe, enabling us to continue to support logistics players in building robust supply chains across the continent."
Two sites in Orléans region
Brookfield has acquired a site of around 60,000 square meters in Mer from CBRE Investment. The Class A asset is fully leased. Cushman & Wakefield, Wargny Katz and Andine Group acted as advisors on this transaction.
Also, in the Orléans region, close to the Atlantic Arc, the group has signed an agreement with Abrdn for a 30,000-square-meter site in Meung-sur-Loire. Currently vacant, this asset will be the subject of "a capital investment program aimed at upgrading the building and bringing technical specifications into line with current market standards," said Brookfield in a press release. EOL, Jacquin et Associé and Andine Group acted as advisors on this transaction.
First acquisition in Lyon market
Brookfield has also made its first acquisition in the Lyon market. It signed a contract with CBRE Investment for a 14,000-square-meter site in Satoles-en-Bonce. This class A asset is fully leased. Cushman & Wakefield, Wargny Katz and Andine Group acted as advisors on this transaction.
Finally, the group acquired a fourth site of around 40,000 square meters from FM Logistics. This class A asset is located in Marolles, south of Paris, on the A5 freeway. The transaction includes consent for the construction of another 50,000 square meters on a plot of approximately 200,000 square meters. "The existing building will be leased at its estimated rental value, and the extension will be built after the signature of a preliminary lease," said Brookfield.
In addition, the asset is classified Seveso low threshold for the storage of hazardous substances and has HQE Exceptionnelle certification for its balance of environmental sustainability. "Eight additional units will be built, including for the storage of hazardous products, and solar panels will be installed on the green areas of the land extension," added the group. CBRE, Wargny Katz, Andine Group and Ireo acted as advisors in this transaction.