Harbert Management Corporation (HMC) and DeA Capital Real Estate have acquired an initial 73,000sqm portfolio of business parks in France from developer Axtom.
The acquisition made by HMC’s European Real Estate platform comprises seven forward-funded, new-build assets in Croissy-Beaubourg, Mondeville, Petit-Couronne, Ludres, Chasseneuil, Marck and and Le Mans.
The assets are scheduled to be delivered by Axtom’s subsidiary Axdev between late 2026 and early 2027.
Pricing for the deal remains undisclosed.
Florent Danset, senior MD and co-head of European real estate at Harbert Management Corporation, said: “Multi-let industrial, including modern business parks such as the assets acquired in this transaction, remains one of our highest-conviction sectors in France and across Europe.
“We have seen a clear pick-up in leasing activity in recent months, with occupiers continuing to prioritise high-quality, sustainable space. Even during periods of softer occupational demand, modern and flexible units close to dense urban areas have shown strong resilience. With new supply constrained, the demand-supply balance remains supportive.”
Eric Desautel, principal and head of France at Harbert Management Corporation, said: “This investment reflects one of our highest conviction sectors. Well-located light industrial and business park assets sit at the intersection of logistics and light manufacturing, benefiting from near-shoring dynamics, evolving supply-chain needs, and last-mile requirements.
“In an environment where new development is becoming more complex and constrained, high-quality, sustainable assets that meet evolving regulatory standards are increasingly valued by both tenants and long-term investors.”
Pierre Julin and Emanuele Dubini, MD and global CIO respectively at DeA Capital Real Estate, said: “The French business parks market currently offers a particularly attractive entry point for international investors with a long-term vision. In an environment characterised by capital selectivity, this asset class combines income visibility, market depth, and performance potential – especially for recent, well-located assets aligned with ESG standards.”
Clément Van Tornhout, co-founding partner of Axtom, said: “This transaction highlights Axtom’s ability to originate and execute high-quality real estate projects for leading investors. It also illustrates the strength of Axtom’s model, built around entrepreneurs deeply embedded in local markets, with a strong understanding of regional dynamics and the ability to develop assets aligned with local economic needs and constraints.”
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