Valor Real Estate Partners (“Valor”), on behalf of its clients, is pleased to announce the acquisition of four prime logistics warehouses (the “Assets”) via three separate transactions. The sites purchased comprise:

• Two class A logistics park totalling c.60,000 sm. in Marly-la-Ville, Paris, France;
• 5,900 sm. urban infill parcel distribution facility located in Limeil-Brévannes, 13km South East of Paris; and
• 11,120 sm. class A logistics warehouse located in Saint-Laurent de Mure, 20km South East of Lyon.

The Assets in Marly-la-Ville, Paris, offer excellent access to central Paris and the wider Ile-de-France logistics region, the most dynamic market in France. Marly-la-Ville is one of the most attractive submarkets in Paris, benefiting from its direct access to the A1 highway and close proximity to Roissy CGD airport. The largest building is currently leased to Globe Express whilst the second building, 26,500 sm. in size, is available to let, offering potential for Valor to take advantage of growing tenant demand in a sub-market that is increasingly supply constrained.

Valor’s acquired urban infill parcel distribution facility is located in Limeil-Brévannes, one of the most attractive submarkets in France, which also has a structural supply shortfall. The Asset benefits from its immediate proximity to Paris and close distance from the A86. Orly airport and the A104 can also both be reached within 15-minutes. The Asset is currently vacant and will be fully refurbished including new slab, cladding and doors. Once repositioned, the Asset will offer a great opportunity to capture rental growth thanks to an increasing demand for last mile cross docks assets.

The Asset in Saint-Laurent de Mure offers excellent access to Lyon Saint-Exupery airport and the wider Rhone logistics region, one of the wealthiest regions in France. The asset is currently fully leased to two tenants, including leading third-party logistics provider DSV, and benefits from excellent build specifications.

Victor Massias, Principal at Valor commented:

“The acquisition of these four assets represents a significant increase in our French estate, which now totals more than 225,000 sm. of prime in-fill assets in Paris and Lyon.

France remains a strategic focus given the country’s rising employment and emergent e-commerce sector. This is part of our wider drive to invest in the most attractive sub-markets across Europe where we see strong rental growth through supply and demand imbalances.

Valor will continue to look to make acquisitions in high barrier to entry submarket with attractive short- and medium-term rental trends.”

The transactions in Marly-la-Ville, Paris and Limeil-Brévannes were financed through funds managed by Acofi Gestion. The transaction in Saint-Laurent de Mure was financed with pbb Deutsche Pfandbriefbank as part of an existing facility.