Prologis’ Targeted European Logistics Fund has purchased a 1.5m sq ft portfolio of French industrial estates in Marseille.
This acquisition increases the size of Prologis’ portfolio in the Clesud area to 13 buildings, totalling 3.9m sq ft.
PTELF fund manager Ali Nassiri said: “This was a great opportunity to purchase high-quality assets that are let to an established retail company and which complement PTELF’s existing portfolio.
“These investments align well with the fund strategy to reinforce its presence in long-term global markets.”
Four of these buildings will remain occupied by Maisons du Monde, a retail company specialising in furniture and decorative objects, in new 12-year leases.
Prologis was advised by Vianney Laporte, Etude Attal & Associés, and Franklin et Associés. CBRE advised the vendor.
