The portfolio was acquired in December 2018 through a share deal with the LOG’S group, a major logistics company in northern France.

The developed “manage to core” strategy required:

- To sign investor-type leases with building users: the entities of the LOG’S group, Verbaudet and Relais Colis

- To develop and deliver two extensions of 15,500 sqm and 18,900 sqm

To Improve the quality of documentation of land titles

- To regularize the administrative situation of the ICPE and the management of compliance work

The portfolio was sold in July 2021 to a foreign sovereign wealth fund, with the sale generating a double-digit IRR for the investor.

More Details

Location: Lille Region, Valenciennes

Asset class: Logistics

Land plot area: 676,000 sqm

Total area: 300,000 sqm

Green certificates: Breeam Good on the 18,900 sqm extension

Tenant: LOG’S Group subsidiaries, Relais Colis, Ikea, Verbaudet

Acquisition date: December 2018

Delivery date: July 2021

Risk: Core+