CBRE Global Investment Partners has acquired a portfolio of seven European logistics properties for €346m (£244m) from TH Real Estate.
The seven properties are in France, the Netherlands, Spain and Germany and are being sold on behalf of Warburg HIH and TIAA-CREF.
Originally the 559,550 sq ft portfolio had been held by two Warburg HIH investment funds, Warburg-Henderson Pan-Europa Fonds numbers 1 and 3 and the TIAA-CREF European property portfolio.
Mike Sales, managing director, Europe, TH Real Estate, said: “Given the weight of capital in the market seeking exposure to the logistics sector, combining assets to facilitate a portfolio disposal made good commercial sense for both clients with increased scale attracting greater liquidity and a pricing premium.
“We were successfully able to guide both clients through this process in order to secure an optimal exit solution”.
