French developer Vectura Immobilier has sold an 18,750sqm portfolio to Real Estate鈥檚 Catella Logistik Deutschland Plus (CLD+) fund.
The three new logistics properties in St Etienne and Avignon were sold for an unspecified amount.
Wolfgang Oelke, commercial business unit manager at Catella Investment Management, said: 鈥淲e are proud to have secured our first logistics investment for Catella Logistik Deutschland Plus fund in France. With this portfolio acquisition, Catella Investment Management takes over three modern cross-dock logistics assets leased to strong tenants in strategic locations in France.鈥�
The fund now has 23 properties spread across four European countries, Oelke added.
The CLD+ fund is advised by local operating partner Aquila Asset Management.
Olivier Levesque, managing director and partner at Aquila Asset Management, said: 鈥淲e are thrilled to be on Catella Real Estate鈥檚 side for their first logistics acquisition in France.
鈥淟ogistics is a strategic asset class for Aquila and we will focus on seizing more opportunities over the coming years with core and value-added strategies.鈥�
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