Swiss Life AM: Acquisition of a logistics portfolio
Swiss Life Asset Managers has purchased ten logistics properties in four European countries. The properties will be placed in two funds.
The purchase involves ten "first-class" logistics properties in Germany, France, Italy and Spain with a total area of 187,967 sqm and a diversified, solid tenant base, according to Swiss Life Asset Managers. The sites are located "on strong logistics routes in established locations". The parties have agreed not to disclose the purchase price. The ESG European Thematic Income & Growth and ESG European Industrial & Logistics funds have acquired six and four of the properties respectively.
55% of the portfolio consists of cold storage logistics - a growth market according to Swiss Life AM: The cold chain logistics sector is growing strongly due to population growth and increased consumer spending on food, pharmaceuticals and other products, which are usually stored in temperature-controlled facilities between their production and sale. The asset manager expects the sector to grow at a compound annual growth rate (CAGR) of 18.3% through 2026. (ah)
