La Française Real Estate Managers (REM) has made a €7m off-plan acquisition of a light industrial business park in France from Altarea Logistique.

The real estate manager said the 16,690sqm Technoparc de Lamirault asset, comprising seven buildings in Collégien 77 was acquired on behalf of a collective real estate investment vehicle.

La Française REM  bought seven buildings in total. The first six are already occupied by tenants, and the seventh, building F, is being built.

Thierry Molton, managing director of the retail division of La Française Real Estate Managers, said the prime location of the asset, situated in the thriving east of Paris, is a key determinant of its investment appeal, adding that the district, already home to a multitude of businesses, offers a wealth of opportunities for growth and expansion.

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