Valor Real Estate Partners (“Valor”) announces the acquisition from Stonehedge of two forward funding urban distribution parks (the “Assets”) located in Louvres and Brie- Comte-Robert totaling 321,000 sq. ft for a total consideration of c. €40 million. The Assets will have best-in-class specifications, with an 8m clear height, 1:710m² average door ratio, 42m shared yard and c.17% office ratio. Both projects will be developed in two distinct phases.

The first Asset is located in Louvres, 27km north of Paris and benefiting from immediate access through a cloverleaf interchange to the A104 and Paris Roissy CDG airport. The Asset forms part of a brand-new business and industrial park and one of “Grand Paris Amenagement” key projects with an aim to support the local economy by attracting SMEs and generating employment.

The second Asset, located in Brie-Comte-Robert, is 28km south east from Paris with excellent access via the N19 and the A104. Brie-Comte-Robert is an established logistics park and benefits from the very limited availability of urban distribution spaces. Part of it is pre-let to a blue-chip tenant on a 9-year fixed-term lease.

Victor Massias, Principal at Valor commented:

“We are very pleased to announce another two acquisitions in France. Both assets are located in dynamic submarkets, with favourable supply & demand dynamics, experiencing high rental growth as the e-commerce market in the greater Paris region continues to grow.

“These acquisitions continue to demonstrate our commitment to France and emphasize our approach to acquiring prime assets in underserved locations with exceptional access to key urban centres.”

Valor was represented by Hogan Lovells (on real estate matters), Simmons and Simmons (on financing, tax and structuring matters), Oudot et Associés (Notary) and Etyo (TEDD) whilst Stonehedge was represented by Jacquelin-Hoffmann-Chable-Giudicelli (notary), EOL and Sorovim (brokers) for both transactions.