Valor Real Estate Partners has bought two logistics assets in France’s capital in a forward funding deal.
The manager said it acquired the 321,000sqft distribution parks in Louvres and Brie-Comte-Robert from Stonehedge for €40m. Both projects will be developed in two distinct phases.
The Louvres asset is located 27km north of Paris and the Brie-Comte-Robert asset is 28km south-east from Paris.
Victor Massias, principal at Valor Real Estate, said: “Both assets are located in dynamic submarkets, with favourable supply and demand dynamics, experiencing high rental growth as the e-commerce market in the greater Paris region continues to grow.
“These acquisitions continue to demonstrate our commitment to France and emphasize our approach to acquiring prime assets in underserved locations with exceptional access to key urban centres.”