Valor Real Estate Partners (“Valor”), Europe’s fastest growing last mile real estate specialist, has completed the acquisition of a 26,000 sqm Grade-A logistics asset in Dugny, within the Grand Paris regeneration zone, from an institutional English investor.

The property, which was refurbished in 2021 to modern design and sustainability standards, offers 11m clear height and 41 loading docks (1/600 SM ratio), with a 38m vehicle yard. It is fully let to two e-commerce businesses with a WALB of c. 4 years.

The acquisition was part funded by a loan secured from ING, on competitive terms. It represents the second financing transaction between the two companies.

Dugny is a prime north Paris A86 submarket characterised by low-supply of modern logistics space. It is ideally located for e-commerce and distribution businesses, providing unparalleled access to the city centre via the A1 (Paris-Lille motorway) and the Boulevard Périphérique (Paris 1st ring road). The area is at the heart of the 'Grand Paris' regeneration plan and was home to numerous 2024 Paris Olympic Games sites, with future industrial development set to be restricted by limited land availability.

The acquisition takes Valor’s deployment to more than €3.5bn in Europe, underlining its strong conviction for last-mile logistics and ability to deploy capital and aggregate scale at all stages in the market cycle.

Flavien Caminati, Senior Vice President, Investments, Valor, commented:

“This was a rare opportunity to acquire a high-quality, stabilised asset in one of Paris’ most competitive submarkets, that will benefit from the significant investment around the recent Olympics. The asset has recently been refurbished to a high specification and offers excellent connectivity to the centre of Paris and a sizeable urban population, making it ideally-suited for the needs of e-commerce businesses.”

CBRE acted as brokers for the vendor.

Valor was advised by Oudot (notary), Simmons & Simmons (financing and structuring), Hogan Lovells (legal audit) and AMF Andine Groupe (technical audit).