CBRE IM sale and leaseback buys into Ghent logistics

CBRE Investment Management, has completed the off-market acquisition of the 150,000 sq m Ghent Logistic Campus, in a sale-and-leaseback transaction with Heylen Warehouses, the Benelux-focused logistics warehouse operator. The price has not been disclosed.

CBRE IM has acquired the building, located in the port of Ghent, Belgium, on behalf of one of its pan-European funds. It comprises 149,409 sq m of warehouse space, 26,854 sq m of mezzanine space and 7,957 sq m of offices. Heylen Warehouses has a long-term master lease agreement and remains responsible for the building’s management.

“This was a rare opportunity to acquire a high-quality logistics campus in Belgium – a market that is highly sought after by international investors due its strong fundamentals but remains difficult to access due to the high level of domestic investment,” said Piet van Poppel, country manager Belgium, CBRE Investment Management.

“Ghent Logistic Campus is already located in a key multimodal hotspot and its appeal is set to increase further following the completion of key infrastructure works and as part of the broader shift to water and train transportation,” he added.

CBRE Investment Management was advised by Linklaters. The vendor was advised by Savills.