BentallGreenOak Sells Mega European Logistics Portfolio
Posted on 12/06/2019
BentallGreenOak’s GreenOak Europe Fund II value-add fund sold a €1.2 billion 42-asset European logistics portfolio to Danish investor PFA, South Korea’s Public Officials Benefit Association (POBA), and a fund (Logistik-Invest Europa II fund) managed by Patrizia. The assets are located in France, Spain, Italy, and the Netherlands. The portfolio has over 1.4 million square meters of existing leasable area. The assets were acquired between October 2016 and February 2019. BentallGreenOak is a part of SLC Management, which is the institutional alternatives and traditional asset management business of Sun Life Financial, Inc.
PFA is investing 2.6 billion DKK in the deal, which is more than 50% of the portfolio’s equity.
Keywords: Korea POBA.
