La Française Real Estate Managers has entered into a strategic partnership with specialist property company Vectura to develop last-mile logistics assets across France, with the potential to expand into other markets, including Spain.

The partnership’s first deal has been made, acquiring six last-mile delivery stations and urban logistics platforms on behalf of a South Korean institutional investor.

The portfolio encompassing more than 40,000sqm of space is located in the Greater Paris region, Toulouse, Belfort, Pau, Saint-Quentin and Calais.

The assets, ranging from 5,000sqm to 10,000 sqm are fully leased under long-term contracts.

David Rendall, managing director of the institutional division of La Française Real Estate Managers, said: “Quality last-mile logistics assets have favourable valuation perspectives for a variety of reasons.”

He added: “All of the locations were chosen on the basis of consumer purchasing statistics and five of the assets are close to bordering countries which will support pan-European operations.”

“This is a perfect illustration of Vectura’s expertise, and we are confident that we’ll be able to build upon this success in the future.”

Michel Chiche, chairman of Vectura, said: “We have been involved for many years in the development of state-of-the-art last-mile logistics tools for many players in the supply chain, but also for many end-users.

“This partnership with La Française Real Estate Managers, a renowned real estate asset manager, is the culmination of many years of hard work and reinforces our development strategy.”