Valor acquires four French sheds for €60m

Asset manager Valor Real Estate Partners has acquired four logistics warehouses in Paris and Lyon on behalf of clients for around €60 mln.

The assets include two class A logistics park totalling 60,000 m2 in Marly-la-Ville, Paris, France, the largest of which is currently leased to Globe Express whilst the second building, 26,500 m2 in size, is available to let, offering potential for Valor to take advantage of growing tenant demand, the firm said.

Valor has also acquired a 5,900 m2 urban infill parcel distribution facility located in Limeil-Brévannes, 13 km south east of Paris, which is currently vacant and will be fully refurbished. The deal also includes a 11,120 m2 class A logistics warehouse located in Saint-Laurent de Mure, 20 km South East of Lyon, which is currently fully leased to two tenants, including third-party logistics provider DSV.

'The acquisition of these four assets represents a significant increase in our French estate, which now totals more than 225,000 m2 of prime in-fill assets in Paris and Lyon,' said Victor Massias, principal at Valor.

'France remains a strategic focus given the country’s rising employment and emergent e-commerce sector. This is part of our wider drive to invest in the most attractive sub-markets across Europe where we see strong rental growth through supply and demand imbalances,' Massias added.

The transactions in Marly-la-Ville, Paris and Limeil-Brévannes were financed through funds managed by Acofi Gestion. The transaction in Saint-Laurent de Mure was financed with pbb Deutsche Pfandbriefbank as part of an existing facility.

'Valor will continue to look to make acquisitions in high barrier to entry submarket with attractive short- and medium-term rental trends,' Massias concluded.


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