Valor Real Estate Partners has completed the acquisition of four urban logistics assets in Paris and Lyon, for a total consideration of €30m in three separate transactions.
The assets are in prime last-mile submarkets and are fully-let with reversionary potential.
In Paris, Valor has acquired a 3,900 sq m (circa 42,000 sq ft) modern industrial unit in Saint-Ouen L’aumone, from a private vendor, via a sale and leaseback, with a six-year lease. To the south of Paris city centre, in Lisses, Valor has acquired an 8,000 sq m facility (circa 86,000 sq ft) from a private vendor, which is let to a 3PL business.
In Corbas, south of Lyon, Valor has acquired a modern 5,730 sq m (circa 61,000 sq ft) warehouse facility, from a private vendor, and in nearby Genas it has completed the purchase of a 5,377 sq m (circa 58,000 sq ft) light industrial estate on a 12,434 sq m (circa 133,000 sq ft) plot from the current occupier, a 3PL business, in a sale and leaseback transaction.
Ben Brunschwig, senior vice president, investments, at Valor, said: “These assets are all in supply constrained urban logistics submarkets and offer long-term reversionary potential, as well the opportunity to increase the site coverage through development.”
Flavien Caminati, senior vice president, investments, at Valor, added: “Our ability to aggregate scale in highly granular markets and identify value despite the current price volatility is testament to our best-in-class origination platform.”
CBRE brokered the transactions in Genas and Saint-Ouen L’aumone. JLL brokered the transaction in Corbas. NCT brokered the transaction in Lisses.
Valor was advised by Attal (notary) DLA Piper (legal real estate) Darrois (taxes) Groupe Andine (TEDD).
