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Report: Amazon-leased European logistics assets sell for €400M

An investor consortium including South Korea's IGIS Asset Management Co. Ltd. and Korea Investment & Holdings subsidiary Korea Investment & Securities Europe purchased a portfolio of logistics properties leased to Amazon.com Inc. in Barcelona; Paris; and Bristol, U.K., for about €400 million, Business Immo reported, citing unnamed sources.

The Neptune portfolio comprises the 204,000-square-meter Amazon logistics complex in El Prat del Llobregat near Barcelona's main airport, a 150,000-square-meter complex in Le Plessis-Pate south of Paris, and the 132,000-square-meter Amazon Central Park Avonmouth in Bristol.

The buyers acquired the Paris and Barcelona properties at a cap rate of 3.8%, and the British property at 4.3%, the sources told Business Immo.

IGIS is planning to raise up to 245 billion South Korean won worth of commitments for its newly launched logistics-focused public fund, the publication added.

As of Sept. 26, US$1 was equivalent to 1,202.00 South Korean won.