Pan-European logistics player Logistics Capital Partners (LCP) has launched in France with the purchase of a 14 ha site in a core market area south of Paris, while hiring Estelle Vargas as director of development.
The firm has opened an office in the capital's 9th district, which will be managed by two of its partners, Mathieu Olive and Emmanuel Mercier.
'LCP is a pan-European company. After first establishing ourselves and delivering a significant number of projects in neighbouring countries, entering the French market is in keeping with our overall strategy, to meet the constantly changing needs of our users by supporting them in their development strategy across Europe,' said Olive. 'France is a major market in Europe, and we just had to be there.'
LCP’s first French deal comprises a 14 ha plot of land in Corbeil-Essonnes, located at the intersection of the Paris outer ring-road and the A6 motorway. Financial details were not disclosed.
To spearhead its development activities in the country, Estelle Vargas, formerly of Carrefour Property and Gazeley, has been appointed development director for France. Vargas has more than 18 years of experience in logistics across Europe.
'I am delighted to join a dynamic company such as LCP and to take up this new challenge,' Vargas said. 'Our keen understanding of occupiers’ needs, our capacity to develop complex projects within ever tighter deadlines and our geographical scope, which now includes France, allow us to help our customers develop their logistics network throughout Europe.'
Mercier concluded: 'We are very glad to welcome Estelle to the LCP team. Her skills and experience will be very valuable to the company. We form a complementary and experienced team with in-depth occupier knowledge, and are able to respond efficiently to increasingly complex requirements.'
Founded five years ago by three experienced logistics executives - Kristof Verstraeten, James Markby and Andrea Benvenuti - LCP is already established in six European countries (UK, the Netherlands, Belgium, Italy, Luxembourg and Spain), and currently manages €800 mln of assets. It has developed more than 500,000 m2 of space in five years.