Valor Real Estate Partners (“Valor”), the last-mile logistics specialist, announces the acquisition, from Cromwell Property Group, of a 16,100 sq. m urban distribution park (“The Asset”) located in Lisses, 30km south of Paris.
Lisses is situated at the junction of the A104 (Paris’ 3rd ring road) and the A6 (Paris-Lyon motorway), a critical road for freight movements in France. The strategic location provides direct access to the Paris city centre and into the wider Paris metropolitan area.
This qualitative asset built in 2007 offers functional specifications, 23 level access doors, 25-28m truck yard, 6m clear height, 49% site coverage and 21% of office space. It comprises 4 buildings that have been divided into 21 individual units. Each unit varies in size, from c.500 sq. m to c.1,500 sq. m, and are equipped with one or two HGV doors.
Victor Massias, Principal at Valor commented:
“We are pleased to announce another excellent acquisition in France. This was a rare opportunity to acquire an institutionally maintained urban distribution park in an established South Paris submarket which will benefit from the greater Paris development. 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. Purchaser advisors were: Oudot et Associés (notary), Hogan Lovells (real estate legal), Simmons & Simmons (financing, tax & structuring), AMF-QSE (TEDD) and Nexity (broker).