Cheyne Capital has marked its entry into the French logistics real estate sector by providing a €57m loan to finance ARA Europe’s acquisition of a 117,000sqm logistics platform.
The alternative investment managers said it has provided the finance for the construction of the platform in the heart of the Haut-de-France region scheduled for completion in the fourth quarter of the year.
Raphael Smadja, the head of French real estate at Cheyne Capital, said: “In recent years we have been very active in French real estate lending – financing a wide range of projects spanning hotels, offices and residential developments.
“We are pleased to have now entered the French logistics market and believe that this transaction marked the ideal opportunity to do so. We look forward to working with ARA on this project and continuing to expand our presence in France.”
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