Valor Industrial Partners 1 (VIP1), the investment partnership between Valor Real Estate Partners and AIG Global Real Estate, has acquired a logistics site in Le Bourget, a north-eastern suburb of Paris.
Financial details were not disclosed.
The 62,000 m2 site comprises three buildings let to various tenants including La Poste.
Christian Jamison, managing partner of Valor, said: ‘The park offers substantial potential for repositioning via selective redevelopment and active asset management.’
In addition, Valor announced it has completed a €30 mln refinancing of three existing French assets in Croissy, Emerainville and Les Ulis.
‘The successful refinancing of our existing French portfolio provides us with further flexibility to capitalise on the exciting pipeline of deals we are seeing both in the UK and European industrial and logistics markets, and to continue expanding our portfolio,’ Jamison concluded.