CBRE ΙΜ acquires a logistics portfolio in JV with MG Real Estate
The three assets are in different phases of construction.
CBRE Investment Management, on behalf of a fund it sponsors, has acquired a portfolio of three logistics assets in a joint venture agreement with the developer and seller, MG Real Estate.
According to the company’s official press release, the three assets are in different phases of construction and are located in Belgium, Sweden and Denmark.
The portfolio will offer a total of circa 62,000 sq m of newly built,
grade A high-quality warehouse space, all of which will be completed in line
with CBRE Investment Management’s Sustainability Vision and ESG targets.
The
portfolio is let to a strong range of covenants. As a part of the joint venture
agreement, CBRE Investment Management will have right of first refusal on the
future predefined development pipeline of MG Real Estate, which currently
comprises six identified projects in Belgium, Sweden and Denmark.
MG Real Estate will be instructed on the property management of the portfolio.
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