Tristan Capital Partners and Catella Asset Management have launched a French logistics platform with the acquisition of a portfolio of 50 logistics sites for €180m.
Tristan, investing on behalf of its European opportunity property fund, EPISO 5, said the acquisition has been made by way of a sale-and-leaseback deal with French transport company Jacky Perrenot.
The portfolio comprises of 280,000sqm of assets, of which 80% are located along the Lille-Paris-Lyon-Marseille corridor.
Tristan said the portfolio will be used as seed assets for a new French logistics and light industrial portfolio within the EPISO 5 fund with a plan to pursue further deals and grow the managed assets to €500m in size.
Thibault Ancely, MD at Tristan Capital Partners, said: “The French logistics market has proved resilient over the past few years despite an incredibly challenging operating environment, which highlights the key role of the supply chain in the economy.
“This transaction provides us with a substantial range of assets which we can refine and expand in order to curate a portfolio of institutional quality, strategically located logistics, light industrial, and road freight assets across France.”
François Brisset, CEO at Catella Asset Management, said: “We are delighted to partner with Tristan Capital Partners to launch this platform and to work alongside our joint client, the group Jacky Perrenot.
”We look forward to further expanding the network of clients for this platform through future acquisitions.”
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