Pan-European industrial platform Valor Real Estate Partners has invested €30m to buy four urban logistics properties in France.
Valor has acquired a 2,000sqm industrial vacant unit in Créteil owned by Rolesco, bought a 10,500sqm warehouse located 12km from Paris from a Do & Co group subsidiary, acquired a 7,000sqm industrial warehouse in Chaponnay from the previous occupier Oxymetal and also bought a 3,600sqm vacant low site density warehouse in Saint Priest from the previous occupier Ciffreo Bona.
Ben Brunschwig, senior vice president at Valor Real Estate Partners, said:
“These transactions underline our ability to identify and acquire assets in highly granular and competitive markets, offering near term asset potential via repositioning and leasing activity.”
Brunschwig said the warehouses are ideally located for last-mile delivery in critically undersupplied infill sub-markets on the edge of Paris and Lyon, with immediate access to arterial roads and in two of Western Europe’s most densely populated cities.
”With future development likely to be restricted by land availability, this should further underpin rents and performance moving forward.”