La Française Real Estate Managers (REM) has entered into a strategic partnership with logistics property developer Vectura to develop last mile logistics assets across France and potentially other markets, including Spain.
The inaugural deal for the partnership is a portfolio of six last-mile delivery stations and urban logistics platforms providing more than 40,000 m2 in the Greater Paris region, Toulouse, Belfort, Pau, Saint-Quentin and Calais.
The assets, ranging from 5,000 to 10,000 m2 are fully leased, under long-term leases, by blue-chip tenants operating in the e-commerce or delivery services sectors, were acquired by La Française REM, acting on behalf of a major South Korean institutional investor.
‘ All of the locations were chosen on the basis of consumer purchasing statistics and five of the assets are close to bordering countries which will support Pan-European operations,’ said David Rendall, managing director of La Française Real Estate Managers – Institutional Division.
Michel Chiche, chairman of Vectura, added, ‘We have been involved for many years in the development of state-of-the-art "last-mile" logistics tools for many players in the supply chain, but also for many end-users. This partnership with La Française Real Estate Managers, a renowned real estate asset manager, is the culmination of many years of hard work and reinforces our development strategy.’
