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Goodman acquires prime logistics property near centre of Paris

Wednesday, 01 October 2014

Goodman has acquired a 20,465 sqm prime logistics property at the Port of Gennevilliers, a mere ten kilometres from the centre of Paris. The sale was brokered by CBRE on behalf of the seller, the PRD Group. The property is a new addition to Goodman’s flagship Goodman European Logistics Fund (GELF) portfolio, highlighting the Fund’s broader acquisition strategy following its €550 million equity raise last year. The property is being leased by DB Schenker, a long-standing customer of Goodman, with a relationship that comprises the development and management of more than 370,000 sqm of logistics space in Europe and around the world.

Since 2005, the logistics property, which includes almost 5,000 sqm of office space, has served as DB Schenker’s French headquarters. DB Schenker uses this facility as a hub for the distribution of goods coming in and out of Paris. To provide for efficient delivery, the company takes advantage of the property’s strategic location and its cross docking features, which facilitates road, rail and water transportation. The location and facilities are ideal for logistics operators and is a key reason DB Schenker has operated at the port for more than 30 years.  

“This quality acquisition has not only added a landmark asset to our French property portfolio, it has also provided Goodman France with the opportunity to welcome DB Schenker as a new customer. We are excited to build on the strong relationship Goodman has with DB Schenker and we look forward to fostering this relationship in France,” said Philippe Arfi, Director of Goodman France.

The Port of Gennevilliers is the largest port in the Ile-de-France region and is the largest river port in the country, moving more than 20 million tonnes of goods annually. In addition to its close proximity to the centre of Paris, the facility is directly linked to the A86 highway and is only a few kilometres from the A15, the A14 and the A1 highways. The site also offers easy public transportation connections for employees.

“The acquisition in the Port of Gennevilliers realises an excellent investment opportunity for GELF, securing a Grade A property in a region which has little land available for new development and a market with few prime logistics properties for sale. Moreover, the property is expected to further strengthen our portfolio’s quality,” noted Emmanuel Van der Stichele, GELF Fund Director. 

   

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For further information, please contact Goodman:

Christopher Flores

Communications Manager

+32 2 451 42 08

Christopher.Flores@goodman.com

 

 

About Goodman

Goodman is an integrated property group that owns, develops and manages logistics and business space across Continental Europe, the United Kingdom, the Asia-Pacific region, North America and Brazil. The Group invests in industrial estates and warehouse and distribution centres.

Goodman also offers a range of listed and unlisted property funds, including its flagship European fund Goodman European Logistics Fund (GELF), giving investors access to a range of specialist services and property assets. Goodman works continually to build value in logistics property and fund management, with innovative new developments, and business and investment offerings.

With total assets under management of €18.4 billion and over 400 properties under management, Goodman is the largest industrial listed property group on the Australian Securities Exchange, and one of the largest listed specialist fund managers globally. Its market insight and dedicated local teams create sound investment opportunities and develop properties and environments that meet each client’s individual requirements. 

With more than 1,000 staff in 16 countries and 33 offices, Goodman has the global reach to meet customers’ needs as their businesses expand or evolve. In Europe, Goodman is present in Germany, the Netherlands, Belgium, Luxembourg, France, Spain, Italy, Poland, Czech Republic, Hungary, Slovakia and the UK.

For more information please visit: www.goodman.com/fr