Allianz Real Estate has expanded its logistics footprint in France with the acquisition of a 鈧�200m portfolio from AG Real Estate.
The manager said it bought the portfolio of four core assets on behalf of several Allianz group companies and in partnership with .
The assets are located in R茅au, Pont-d鈥橝in, Chaponnay and Onnaing, and offer a total gross leasable area of 188,000sqm.
Hugues Braconnier, head of logistics, Allianz Real Estate, said: 鈥淥ur investments in grade A logistics portfolios in prime locations continue to grow, consolidating our position in a dynamic market, and we are delighted to have been able to strengthen our relationship with AEW, a trusted partner with rich experience in the French logistics market.
鈥淟ogistics occupies a central role in our wider investment strategy and the acquisition represents the next step in creating a large logistics platform in France and across Europe.鈥�
Logistics accounted for 鈧�6.6bn of the firm鈥檚 global 鈧�67.1bn real estate assets under management as at 30 June 2019.
