Aviva Investors is providing the forward forwarding to a pre-let logistics project in France for an unspecified amount.
The global asset manager is funding the logistics centre in Rennes which upon completion, will offer over 30,000sqm of warehouse and office space.
The project in northwest France, developed by Primelog, is scheduled for completion in late 2025 and is let to Groupe Mutual Logistics/ENF.
George Fraser-Harding, head of pan-European real estate funds at Aviva Investors, said: “The European logistics sector remains a strategic focus for our continental real estate strategy, where we see long-term structural trends continuing to drive demand, whilst France continues to be a sought-after logistics market with strong fundamentals.
“The facility’s use of modern technology for ongoing energy needs should keep it relevant well into the future, whilst limitations on land development mean this scheme has the potential to provide a good long-term performance in the portfolio.”
To read the latest IPE Real Assets magazine click here.
