A fund managed by JP Morgan Global Alternatives has acquired a €540m pan-European logistics portfolio from Mountpark Logistics.
The 4m sqft portfolio consists of 11 properties located in UK, France and Ireland.
JP Morgan said the buildings have recently completed or close to completion, have been pre-let.
Chester Barnes, co-portfolio manager, real estate Europe, at JP Morgan Asset Management, said: “The logistics sector has seen huge changes driven by evolving consumer preferences which have accelerated during the pandemic but which we believe are here to stay.
“This first-class portfolio of industrial assets was purposely designed to take advantage of these long-term trends.”
Paul Kennedy, co-portfolio manager, real estate Europe, at JP Morgan Asset Management, said: “We are delighted to have achieved exposure to three of Europe’s most vital and expanding logistics markets with these high-quality assets.
“The portfolio delivers long-indexed income streams in today’s most sought-after investment sector.”
JP Morgan Global Alternatives is the $163bn alternative investment arm of JP Morgan Asset Management.