French property company Gecina has added to its real estate portfolio in the south of France with the acquisition of a second warehouse in the Ecopôle logistics park in Saint-Martin de Crau. The 30,000 m2-property, completed in 2006, was bought in a sale-and-leaseback transaction with Maisons du Monde. The financial details were not disclosed.
French property company Gecina has added to its real estate portfolio in the south of France with the acquisition of a second warehouse in the Ecopôle logistics park in Saint-Martin de Crau. The 30,000 m2-property, completed in 2006, was bought in a sale-and-leaseback transaction with Maisons du Monde. The financial details were not disclosed.
The investment follows a similar warehouse transaction carried out with Maisons du Monde in October 2007. The two assets were developed by Gemfi-Gicram at one of the Marseille region's main logistics sites.
Gecina has now a logistics portfolio of nearly 810,000 m2 of existing assets and over 433,000 m2 of development projects throughout France. The company was advised by the Oudot et Associés notary's office and the Bredin Prat and CMS Bureau Francis Lefebvre law firms.