Aviva Investors, LaSalle invest in French logistics for core fund
The logistics asset, in Fontenay-Trésigny, was bought for the Encore+, an open-ended vehicle co-managed by Aviva Investors as fund manager and LaSalle as asset and transaction manager.
The 70,800sqm platform, leased to FM Logistics, is the fund’s sixth acquisition in France.
The platform was sold by AG Real Estate France.
Jeffrey King, fund manager of Encore+ at Aviva Investors, said the asset is in a “strategically important and sustainable logistics zone in Europe, with a strong tenant covenant providing security of income”.
The warehouse is on the north-south logistics backbone in one of the Paris region’s major submarkets, the N4-Châtres zone.
The firms said the platform offers a solid solution for those seeking to centralise operations on the outskirts of major cities in large-scale warehouses, with courier freight in place to handle ‘last mile’ logistics.