Ivanho茅 Cambridge has paid an undisclosed amount to buy a portfolio of 17 logistics assets in France from The Carlyle Group.
The real estate arm of Caisse de d茅p么t et placement du Qu茅bec has bought the 430,000sqm logistics portfolio located in the main hubs of Paris and Lyon, as well as the portfolio鈥檚 Hub&Flow brand name, the companies announced.
Karim Habra, head of Europe and Asia-Pacific, Ivanho茅 Cambridge, said: 鈥淭his strategic investment marks a new chapter of our expansion in continental Europe with the aim of creating a leading logistics platform focused on the key European hubs.
鈥淟ike Hub&Flow, we intend to invest in top-quality assets that can benefit from future value creation. This portfolio, located at the heart of the main consumer areas, will enable Ivanho茅 Cambridge to respond impeccably to the very strong demand generated by e-commerce.鈥�
Peter Stoll, managing director and head of the Carlyle Europe Real Estate team, said: 鈥淲e are delighted to have been able to work with Ivanho茅 Cambridge for the sale of the Hub&Flow portfolio.
鈥淭his transaction marks the culmination of a major acquisition and asset management effort that has resulted in the creation of an institutional quality logistics portfolio focused on the Paris and Lyon markets, benefiting from a buoyant market environment in which we intend to remain active.鈥�
