Valor Real Estate Partners (“Valor”) announces the acquisition of a c. 2,500 sq. m urban infill facility located 17km South of Paris from a French private investor.
The asset is located in Palaiseau, a prime infill location that has benefitted from the development of Massy-Palaiseau Express Train Station into the city, and subsequent strong regeneration of the area into office, residential and services.
Palaiseau is situated in front of the A10, Paris-Bordeaux motorway, and 4km away from the A6, Paris-Lyon motorway. The location also benefits from its proximity to Orly Airport, Paris’ two ring roads, and the N118, which allows for direct access to the wealthy western Paris suburbs.
The property sits on a 4,070 sq. m plot of land and was recently refurbished. Its functional specifications include a 6m clearance height, 3 HGV doors and a 25% office ratio.
The asset is currently fully let to Sade, a leading French civil engineering company through a long-term lease.
Victor Massias, Principal at Valor commented:
“We are pleased to announce another excellent acquisition in France. This was a rare opportunity to acquire an independent, functional facility in a prime infill location, that also benefits from its lease to a strong-covenant and captive tenant on a long-term basis.”
“In addition, this South Paris submarket not only benefits from its superb connectivity, but also from the strong regeneration occurring in the area”.
The acquisition was financed by debt funds managed by Acofi, with which Valor has already developed a strong a track record, and this financing facility will be complemented by a future acquisition.
Advisors for the acquisition were Oudot & Associés (notary), Hogan Lovells (real estate lawyers), Simmons and Simmons (financing, tax and structuring), AMF QSE (technical) and BNP (broker).