Cheyne Capital has entered the French logistics sector by financing ARA Europe’s, formerly InfraRed Capital Partners Real Estate, acquisition of an XXL logistics platform in France with a €57 mln facility.
The platform has a surface area of 117,000 m2 and will consist of 10 storage cells for standard products and two Seveso storage cells, all of which will be equipped with loading rooms, offices and social premises, allowing for a high degree of flexibility for its future tenants.
The platform in the heart of the Haut-de-France region is currently under construction and is scheduled for completion in Q4 2022. It will benefit from the latest standards in the field and is aiming for BREEAM Very Good certification.
Raphael Smadja, head of French Real Estate at Cheyne Capital, said: ‘In recent years we have been very active in French real estate lending – financing a wide range of projects spanning hotels, offices and residential developments. We are pleased to have now entered the French logistics market and believe that this transaction marked the ideal opportunity to do so. We look forward to working with ARA on this project and continuing to expand our presence in France.’
Since 2017, Cheyne has lent over €1 bn in France through 20 transactions.