Rockspring Property Investment Managers has sold a portfolio of French logistics assets to Blackstone for €233m (£198m).
The 300,000 sq m (3.2m sq ft) portfolio of seven properties was part of the Rockspring TransEuropean Property Limited Partnership V fund, which invested in European logistics.
All of the properties are in France’s north/south logistics corridor near Paris and Lyon.
Paul Hampton, fund director of the TEP funds at Rockspring, said: “While the logistics sector in France remains an important part of our European real estate strategy, and indeed we continue to asset manage a significant portfolio from our Paris office, this transaction was timely and provided a compelling opportunity to realise value.”
TEP V was launched in 2012 and has invested €690m in the UK, France, Switzerland, Germany, Sweden and the Netherlands.
Rockspring announced the final close of its sixth TEP fund in July with €430m in equity commitments and a total firepower of about €1bn.
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