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Carlyle fund buys French and German logistics portfolio

Photo: Hannes Egler, Unsplash.

The Carlyle Group has acquired a portfolio of 27 logistics assets in France and Germany on behalf of the €540 million Carlyle Europe Realty fund.

The portfolio, acquired in a sale-and-leaseback deal, is focused on parcel-delivery and has a total of 158,000 sq m of space. Carlyle said the assets are strategically located near major urban and trade areas.

The portfolio split is 58%/42% between France (92,000 sq m) and Germany (66,000 sq m) and is currently more than 98% occupied.

The acquisition increases the fund’s exposure to European logistics which has been one of its areas of focus since 2016.

Carlyle said in a statement that the European logistics market has experienced rapid growth in recent years, and proved resilient throughout the Covid-19 pandemic as the shift to e-commerce has accelerated resulting in higher delivery volumes. 

“This acquisition exemplifies our strategy of targeting well located, high-quality assets in the distribution logistics sector which have seen rapidly growing delivery volumes accelerated by strong growth in e-commerce,” Carlyle Europe Realty advisory team managing director Marc-Antoine Bouyer said.