Deutsche Finance International has entered into a joint venture with UK diversified real estate investment company Argo Real Estate to build a UK urban logistics platform for €469 million in asset value.
The venture has been seeded with 11 existing assets across the Southeast of London and Manchester acquired through two separate portfolio transactions, covering approximately one million square feet in total area. The first deal closed in May and comprised six assets purchased from Tesco Pension Investment for €109 million. The remaining five assets were acquired from London-based flexible workspace owner-operator Workspace Group for €94 million in June.
These acquisitions mark the first foray into the logistics and industrial market for London-based private equity real estate firm DFI, which manages €3.9 billion in assets and is an affiliate of Munich-headquartered investment management firm Deutsche Finance Group.
Source: perenews.com on the 10th of July 2023
https://www.perenews.com/deutsche-finance-international-enters-uk-logistics-market/