Clifford Chance has advised Prologis on its EUR 1.585 billion acquisition of Crossbay's urban logistics portfolio from Crossbay and Mark. Dentons advised the sellers.
According to Clifford Chance, the portfolio includes 128 logistics facilities and six new developments in seven European countries. "The acquisition, on behalf of the Prologis European Logistics Fund, will add 1.14 million square meters of urban space to Prologis' European portfolio," the firm informed.
Prologis is a San Francisco-headquartered logistics real estate company, offering customers and investors a distribution services platform.
Founded in 2020 by London-headquartered real estate investment management company Mark, Crossbay is a European last-mile logistics platform.
"This acquisition underscores our ongoing ability to provide our customers with quality urban logistics locations and opportunities beyond the real estate near highly populated areas that serve their growth needs," Prologis Europe President Ben Bannatyne commented. "With the ongoing growth of e-commerce, locations near dense population centers are becoming increasingly important to our customers."
The Clifford Chance team included Warsaw-based Partner Daniel Kopania, Senior Associates Katarzyna Paczek and Tomasz Walerowicz, and Associates Joanna Kuzminska, Agata Parys, Oliwia Hutnik, and Katarzyna Kuchta, as well as lawyers from the firm’s London, Paris, Amsterdam, Frankfurt, Madrid, Milan, Brussels, and Luxembourg offices.
The Dentons team included Warsaw-based Partner Monika Sitowicz and Associate Weronika Nowosielska as well as lawyers from the firm’s Luxembourg office.