KKR has expanded its real estate footprint in France with the acquisition of a majority stake in Etche France.
The global investment firm, through a European real estate fund it manages, said it has bought the strategic stake in the real estate company from Groupe BMF and co-founders.
Founded in 2010, Etche owns and operates a portfolio of over 120 assets across France in the logistics, light industrial and office sectors with a gross asset value of €400m.
Mai-Lan de Marcilly, director, European real estate at KKR, said KKR and Etche have substantial experience having successfully invested together in the French logistics and light industrial sectors for the past 6 years.
“We are delighted to invest in a high quality, diversified portfolio geared towards the industrial and logistics sectors that will benefit from structural tailwinds and strong market dynamics.”
The latest deal expands KKR’s industrial and logistics presence across Europe. Over the last 24 months, the company has bought close to 800,000sqm of industrial and logistics space across France, the Netherlands, Italy, Spain and Ireland.
To read the digital edition of the latest IPE Real Assets magazine click here.
