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LAUSANEE, SWITZERLAND-Westcore Properties has started an airport acquisition, development and operation business here called Airport Development Partners and allocated $100 million to get it off the ground. The firm is currently in negotiations to acquire land near the Vienna airport to develop cargo and logistics facilities.

Other projects in the works include the development of a cargo facility at the airport in Bratislava, Slovakia; and development of facilities around an airport in Sion, Switzerland. Airport Development is also reconstructing some of the infrastructure at two airports in Poland.

“Many of the assets our company is acquiring have tangential real estate projects including airport logistics and commercial development that Westcore’s team of professionals can assist with,” says Thomas Frankl, the firm’s chief executive officer.

San Diego-based Westcore’s affiliate, Westcore Sarl, has acquired 1.6 million sf of industrial and offices in Switzerland and Austria in the last 14 months.

The firm is also making acquisitions in the US. In March it bought a manufacturing facility in Charlotte, NC for just under $25 million and the month before acquired an 11-building mixed-use in Sausalito, CA; $26 million.

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