Rockspring Property Investment Managers, the London-based real estate fund manager, has acquired a portfolio of French logistics properties for €101 million.
The portfolio is located along France's north/south logistics corridor and comprises four modern logistics assets totalling 2.3 million square feet across eight buildings.
The portfolio is 100 percent let to ten tenants including DHL, Amazon, Honeywell, Rhenus Logistics and Celio Logistique.
The firm used capital from its latest European core-plus/value-added fund, TransEuropean VI, which held a €217.5 million first close last October.
Sinvce then the firm has held interim closes and so far has coralled €327.5 million from seven international, institutional investors. Additional closes will be held throughout Q2 until the fund reaches its hard cap of €500 million.
If the firm is able to hit its hardcap the vehicle will be the largest for Rockspring's TransEuropean series since it was first launched in 1992. The firm will use up to 55 percent leverage so total fire power of the fund will be close to €1 billion.