Valor Real Estate Partners, the pan-European logistics platform, has acquired a prime urban warehouse in Paris for c. €26 million, from a private vendor. Having been active in the Paris market since 2017, the transaction is Valor’s first on behalf of its €1 billion investment vehicle.
The c. 15,000 sqm property, which is in the attractive submarket of Garges-lès-Gonesse, north Paris, is within 10km of the 1st Paris ring-road and offers excellent connectivity to the national road network via the nearby A1 and A86. The area is characterised by a shortage of modern warehouse space, with future supply set to be constrained by the allocation of land for residential development.
Valor plans to undertake a full refurbishment of the unit to deliver high-specification distribution space suitable for occupiers in the e-commerce and logistics sectors. The asset sits on a 26,000 sqm site and provides a 33m yard space, providing excellent accessibility and parking provision.
The transaction is the first Valor has completed in Paris on behalf of its €1 billion specialist urban logistics investment vehicle. Launched in November 2020, it will deploy up to €1 billion in leading cities across UK, France and Germany, across the full risk spectrum of stabilised assets, vacant or short-income assets and ground-up development. To date, Valor has deployed or committed a total of over €365 million on behalf of the vehicle.
Source : Valor