8 October 2019 – GreenOak announced that it was close to finalising a deal to sell a pan-European portfolio of logistics assets to Patrizia, the German real estate investment giant. The German group is in exclusive negotiations with the US fund to acquire the portfolio for roughly €1.3 billion. The two firms expect to finalise the transaction before the end of the current fiscal year.
The portfolio consists of 1.5 million square meters of logistics assets, which the US firm acquired over the last three years for its second pan European logistics fund.
At the same time, GreenOak is acquiring assets for its third fund. In April, the US fund acquired 40,000 square meters of logistics space in the town of Seseña from Pavasal.
Original Story: El Confidencial – Ruth Ugalde
Adaptation/Translation: Richard D. K. Turner