Amundi picks up Zalando warehouse in Germany

French investor Amundi Real Estate has acquired a logistics platform let to online retailer Zalando in Lahr, south-west Germany, from the Goodman Group.

Financial details were not disclosed but the transaction is believed to have gone through at a sub 4% yield.

PropertyEU tipped the deal 10 days ago, as part of a raft of acquisitions which Amundi had secured despite the coronavirus crisis.

The 130,435 m2 logistics warehouse is located in the state of Baden-Württemberg, less than 50 km from the city of Strasbourg in France. It was completed in 2016 to standards including the Gold Energy Efficient (Breeam Very Good) label. Amundi acquired the asset on behalf of the funds it manages.

The asset is fully leased to Germany’s Zalando, an online fashion and lifestyle platform, serving customers in 17 European countries. Zalando has occupied the warehouse since September 2016 under a long-term lease.

Jean-Marc Coly, Amundi CEO, said: ‘We are delighted with this new transaction in the logistics sector. It is in line with Amundi Real Estate’s strategy of asset diversification and international development.’

Amundi Real Estate was advised by Groupe Panhard, Norton Rose Fullbright, Dreese and Sommer, Sintéo and CBRE.