Valor Real Estate Partners has bought a 62,000sqm logistics park in the capital of France and has also completed a €30m refinancing of three existing French assets.
Valor Industrial Partners 1 (VIP1), an investment partnership between Valor Real Estate Partners and AIG Global Real Estate, bought the logistics site in Le Bourget, Paris.
The site comprises three buildings set in 22 acres and is fully leased.
Valor said it has also completed a €30m refinancing of three existing French assets in Croissy, Emerainville and Les Ulis, through a bond issue arranged by Venn Partners.
The 80,000sqm portfolio was acquired from Segro in November 2017.
Christian Jamison, a managing partner of Valor, said: “The deal underlines Valor’s strategy of investing in preeminent logistics locations with excellent access to key urban centres and transport hubs.
“In addition, the successful refinancing of our existing French portfolio provides us with further flexibility to capitalise on the exciting pipeline of deals we are seeing both in the UK and European industrial and logistics markets and to continue expanding our portfolio.”
