The European Real Estate Industry team advised Clarion Partners Europe in relation to the sale of a corporate structure owning a portfolio of 31 institutional quality logistics properties located across Germany, the Netherlands, France, Spain, Slovakia and the Czech Republic, for a consideration which values the properties at over €880 million. The pan-European portfolio is 100% leased and comprises over 827,000 square metres of developed assets, with a further 95,000 square metres of land for further development.
Clarion Partners Europe is a leading real estate investment fund manager, and a long standing key player in the European logistics and industrial market.
The purchaser, Dream Industrial REIT, is an open-ended real estate investment trust listed on the Toronto stock exchange, with over CAD$3.6 billion of assets under ownership in North America and Europe.
The transaction is one of the largest European real estate deals this year and highlights the continued strength of prime logistics as an asset class amongst institutional investors, especially in the face of a surge in occupier demand to support the growth in online retail and distribution. The transaction reinforces Goodwin’s reputation as a leading firm for executing complex and high-value cross-border corporate real estate transactions.
The Goodwin team was led by relationship partner James Spence, with a core team including Ray Fang, Adnan Bhaiji, and Katie Sharkey from the London office, and with cross-jurisdiction support from Peter Junghanel, Stephan Kock, Charles-Henri de Gouvion Saint Cyr, and Catharina Foerster.