Logistics Capital Partners (LCP) has made its first investment in France and appointed Estelle Vargas as its development director to help broaden the company’s geographical presence.
The European logistics real estate investor – which already invests the UK, the Netherlands, Belgium, Italy, Luxembourg and Spain – has paid an undisclosed amount to buy a 14-hectare site in a core market area south of the capital.
Vargas began her career in 2002 at Gazeley, where she worked as a developer specialising in logistics warehouses. She then joined Carrefour Property in 2015.
LCP said partners Mathieu Olive and Emmanuel Mercier will manage its newly opened commercial office in Paris.
Mercier, said: “We form a complementary and experienced team with in-depth occupier knowledge, and are able to respond efficiently to increasingly complex requirements.
“LCP has ambitious growth targets. Further hiring announcements will be made shortly.”
Olive said: “After first establishing ourselves and delivering a significant number of projects in neighbouring countries, entering the French market is in keeping with our overall strategy, to meet the constantly changing needs of our users by supporting them in their development strategy across Europe.
”France is a major market in Europe, and we just had to be there.”