GAZELEY ACQUIRES 62,800 SQ M WAREHOUSE IN AMBLAINVILLE
10th September 2019
10 September 2019 – Gazeley, a GLP company and leading investor and developer of logistics warehouses and distribution parks, today announces the acquisition of a 50,600 SQ M warehouse in Amblainville completed in July 2018. The acquisition also involves a forward commitment to purchase a 12,200 SQ M extension due to complete in Q4 2020 that will make the total acquisition 62,800 SQ M.
Gazeley acquired the warehouse in a sale & lease back transaction and received a commitment from the customer, a major French wholesaler, for a renewed term of nine fixed years.
The warehouse has been developed to a high institutional standard and is strategically located in Amblainville, 55 KM North West of Paris along the A16, one of the main motorways connecting Paris to the North of France.
Philippe Graziani, Director Asset Management and Transactions, Gazeley, said: “Gazeley’s latest acquisition in France follows a succession of strategic moves to expand our portfolio across Europe. We are committed to further increasing our portfolio in France, which represents more than 600,000 SQ M of logistics space.”
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Gazeley is a leading developer, investor and manager of European logistics warehouses and distribution parks with a 1.7 million square metre portfolio concentrated in the strategic logistics markets of the UK, Germany, France, Spain, Italy and the Netherlands. In addition to its operating portfolio, which is 98% leased to blue chip customers such as Amazon, UPS and Volkswagen, Gazeley has a prime land bank which allows for the development of an additional 1.5 million square meters. Gazeley is GLP’s Europe platform.
GLP is the leading global provider of modern logistics facilities and technology-led solutions, with US$646 billion in assets under management across its real estate and private equity segments. The Company’s real estate fund platform is one of the largest in the world, spanning 75 million square meters (810 million square feet). In 2019, GLP was recognised by Private Equity Real Estate (PERE) as Global Firm of the Year and Logistics Investor of the Year.