Press Release
Deka Immobilien acquires logistics portfolio in France
Frankfurt – 19.04.2021
Deka Immobilien has exchanged contracts to secure the purchase of a logistics portfolio in northern France for approximately 136 million euro under a sale and leaseback transaction. The three logistics centres are intended to become part of the portfolio of the WestInvest TargetSelect Logistics sector fund, which is aimed at institutional investors. All of the properties are fully leased to LOG's, a leading logistics provider in northern France.
Two of the properties are located in Wattrelos in the Urban Community of Lille Métropole and have a total leasable space of almost 130,000 square metres. The third is located in Maubeuge, a town on the French-Belgian border well-known for its automobile industry, and has a leasable space of around 25,000 square metres. While two of the logistics centres were completed in mid-2020 and are already in use, the largest centre in Wattrelos is expected to be completed in June 2022.
The completed building in Wattrelos has been certified "Very Good" by BREEAM, the UK quality seal for sustainable building practices. The company aspires to achieve corresponding certification for the development project in Wattrelos.
About Deka
DekaBank is the securities services provider of the German Savings Banks Finance Group (Sparkassen-Finanzgruppe). Together with its subsidiaries it forms Deka Group. With total customer assets of more than EUR 395 billion (as at 31/12/2021) and more than 5.2 million securities accounts, DekaBank is one of the largest securities services providers and real estate asset managers in Germany. DekaBank is a wholly owned subsidiary of the German Sparkasse savings banks and forms an integral part of the Sparkassen-Finanzgruppe.
The Deka Group’s global real estate expertise is pooled in its Real Estate Division. The management companies, Deka Immobilien Investment GmbH and WestInvest Gesellschaft für Investmentfonds mbH provide management and support for around EUR 47 billion in real estate assets (as at 31/12/2021).
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