London-based real estate investment fund manager Gramercy Europe has purchased two warehouses in Lyon and Rouen, France, for 37 million euros ($41.5 million) in separate deals.
Both purchases, made on behalf of its fund Gramercy Property Europe III, are consistent with Gramercy’s investment strategy, reflecting attractive yields.
In Lyon, the company bought a modern, purpose built, 22,567 square meter logistics facility in a prime logistics park situated between Lyon City Centre and Lyon-Saint Exupery International Airport for $24.6 million.
Whereas in Rouen, Normandy, the fund manager purchased a 16,568 square meter warehouse located less than 6 kilometers from Rouen city center from French facilities management company Groupe Financier JC Parinaud for $16.8 million.