Brookfield Asset Management accelerates investment in European Logistics
Brookfield Asset Management has acquired a two million square-foot portfolio of logistics assets in Germany, Spain and Poland from Panattoni.
Over the last 12 months Brookfield has grown its European logistics presence through seven different acquisitions and now has a portfolio of more than 10 million square-feet. These acquisitions represent a total investment of over EUR1 billion in prime distribution facilities across France, Spain, Germany and Poland, marking a significant expansion of Brookfield’s investment in the European logistics sector.
“With the acceleration of e-commerce and supply chain reconfiguration, there is tremendous demand for high-quality assets to support businesses with their logistics solutions,” says Brad Hyler, Managing Partner and Head of European Real Estate at Brookfield Asset Management. “We look forward to leveraging our experience of building leading industrial property platforms with vertically-integrated operations, development and acquisition capabilities to create a premier European logistics business.”
Brookfield has extensive global experience optimising premier logistics organisations including Gazeley and IDI Logistics which were sold in 2017 and 2018, respectively. Today, Brookfield owns and operates 221 industrial properties worldwide, and its development projects total 50 million square-feet across the US, Europe, Brazil, Korea and China.