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29 October 20204 minute read

DLA Piper advises The Carlyle Group on the acquisition of prime French and German distribution logistics assets

DLA Piper has advised global investment firm The Carlyle Group (NASDAQ: CG) on its acquisition of a portfolio of 27 distribution logistics assets in France and Germany. The transaction is structured as a sale-and-leaseback.

The portfolio comprises of 27 high-quality distribution logistics assets totalling 158,000 sq m of space focused on parcel-delivery. The assets are strategically located near major urban and trade areas across France (92,000 sq m) and Germany (66,000 sq m). In aggregate, the portfolio is currently more than 98% occupied.

Equity for the investment came from Carlyle Europe Realty (CER), a EUR540 million pan-European real estate fund. This acquisition increases the fund’s exposure to European logistics, an area of focus for the fund since 2016. The European logistics market has experienced rapid growth in recent years, and proved resilient throughout the COVID19 pandemic as the shift to e-commerce has accelerated resulting in higher delivery volumes.

The Carlyle Group is a global investment firm with deep industry expertise that deploys private capital across four business segments: Corporate Private Equity, Real Assets, Global Credit and Investment Solutions. The Carlyle Group employs more than 1,800 people in 31 offices across six continents.

The DLA Piper team was led by real estate partner Myriam Mejdoubi in France (Paris) and real estate partner Fabian Mühlen in Germany (Frankfurt). The German core team also comprised partner Dr Torsten Pokropp (Finance, Frankfurt), senior associates Martin Wilmsen (Finance, Frankfurt), Moritz Mursa (Cologne) and Dr Manuel Indlekofer (Munich) as well as associates Dr Lilian Gutkin (Munich) and Konstantin Decker-Horz (Frankfurt, all Real Estate).

Other team members from DLA Piper’s Paris office included: partner Erwan Lacheteau (Finance), counsel Gabriel Dalarun (Real Estate), senior associate Izabela Kwarcinska, associates Sarah Sameur (both Finance) and Kevin Elbaz (Real Estate) as well as Legal Director Cécile Szymanski (Corporate).

From DLA Piper’s office in Luxembourg partner Xavier Guzman (Finance), counsel Ambroise Foerster as well as associates Amin Bouazza (both Corporate), Yann Zellet and Fanny Denoel (both Finance) also advised on the transaction.