AXA IM Alts has signed a preliminary contract to acquire, on behalf of clients, six Grade-A logistics properties in France, from a Joint Venture owned by CBRE Investment Management and Virtuo Industrial Property.
The c. 190,000 square metres portfolio comprises five completed properties, ranging from c. 20,000 square metres to c. 43,000 square metres, all constructed since 2020. They are 100% occupied by a mix of domestic and international businesses across manufacturing, distribution and 4PL sectors. Construction of a sixth, c. 37,000 square metres warehouse, in the North of France, will complete by the end of this year.
In line with AXA IM Alts’ global sustainability approach, the completed assets have been built by Virtuo Industrial Property with the aim of achieving a very high ESG standard, having utilised 100% LED lights. The three Southern assets feature solar PV rooftop panels, exclusively dedicated to tenants’ auto consumption. All the properties are located in strong macro locations in the major logistics markets of Lille, Lyon and Provence-Alpes-Cote d’Azur.
Source: europe-re.com on the 7th of November 2023
https://europe-re.com/axa-im-alts-to-acquire-french-logistics-portfolio-from-cbre-and-virtuo-fr/72323