European logistics manager Valor Real Estate Partners has secured a €130m loan from KKR to refinance a 76,000sqm portfolio of assets in France.
Valor said the financing is for the ultra last-mile logistics portfolio of 12 assets located across prime submarkets in Paris and Lyon, which is held within Valor’s joint venture with Dallas-based real estate private equity firm RSF.
Valor acquired the properties between 2019 and 2021, and subsequently executed a sustainability-led refurbishment and redevelopment programme.
Ali Imraan, head of European real estate credit at KKR, said: “We are thrilled to partner with Valor Real Estate Partners, a highly regarded platform across Western Europe, and to finance this top-calibre portfolio that aligns strongly with our core thematic focus on prime logistics markets in Western Europe.
“This transaction showcases the strategic scaling of our European lending platform and lender relationships over the past couple years.”
Matthew Phillips, partner and head of finance and operations at Valor, said: “This sizeable facility reflects the continued appetite from global institutions for exposure to high-quality, future-proofed logistics portfolios providing mission-critical real estate in Europe’s dominant e-commerce centres.
“This first transaction with KKR adds another blue-chip lender to our debt capital partners and is a strong endorsement of our current strategy.
“We were particularly attracted to KKR’s speed of execution, efficient transaction structuring, and deep familiarity with the high growth European urban logistics sector.”
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