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.