KKR’s French logistics real asset platform Etche has sold a portfolio of five assets for an unspecified amount.
Etche has sold the fully leased 29,000sqm Gallic portfolio of commercial and logistics buildings located in the Lyon region, in Meyzieu, Saint-Quentin-Fallavier, Saint-Priest, Décines-Charpieu, and Chassieu.
The assets were acquired between 2021 and 2022 through KKR Real Estate Partners Europe II.
Vincent Lauret, the president of Etche, said: “This latest sale ends an extremely active year for Etche, and demonstrates our ability to continue creating value in the sectors we are focused on, including logistics.
”In the midst of a challenging market environment, we have successfully completed a quick sales process without compromising on our ambitious value objectives, reflecting the quality and prime location of this portfolio and our focus on active asset management since acquiring the buildings.”
Founded in 2010, Etche is a French private real estate asset management company with a portfolio of around forty assets throughout France in corporate real estate comprising business parks, industrial, and logistics. KKR acquired a majority stake in Etche in 2020.
Etche is currently refocusing its activities to prioritise logistics real estate through arbitrages or the acquisition of existing or planned buildings.
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