French public service additional pension scheme ERAFP is acquiring a 22,000sqm domestic logistics real estate asset for an unspecified sum.
The pre-let logistics platform in Cavaillon is being acquired in a forward-funding deal by real estate fund manager AEW from Faubourg Promotion.
Faubourg Promotion, a subsidiary of IDEC Group, will develop the asset, which is expected to be completed in September 2026.
Alexandre Petitpré, executive director of investments for France at AEW, said: “Forward-funding this new grade-A logistics platform in a key logistics market in France provides diversification for our client while securing long-term, index-linked income from an institutional-grade occupier.
“There continues to be strong demand for logistics space in established hubs across the French market, particularly in selected micro-locations. The best-in-class specifications, the sustainability credentials of this development, and its prime location align perfectly with our client’s strategy.”
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