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Patrizia acquires French logistics warehouse

German investment manager Patrizia AG acquired a newly built logistics warehouse in Andrézieux-Bouthéon, France, on behalf of one of its pan-European logistics funds from Goodman France SARL, a unit of Australia-based Goodman Group.

The asset, near Saint-Étienne, comprises 61,000 square meters of logistics space and is fully let on a long-term lease to C-Logistics, an affiliate of French online retailer Cdiscount SA. The tenant, a subsidiary of Casino Group, will use the property as its main distribution center in the Auvergne-Rhône-Alpes region.