Virtuo Industrial Property and TPG Real Estate-owned Intervest have launched a €200m joint venture to develop French logistics properties.
The new joint venture, formed to speculatively develop a logistics portfolio across France, has secured a €115m development facility from Cheyne Capital.
The companies said the venture’s portfolio consists of the V PARK 1 Chavagnes-en-Paillers 85 and V PARK Montchanin 71 projects. Its pipeline includes V PARK 2 and 3 Chavagnes-en-Paillers, V PARK Les Essarts 85 and V PARK Montereau 77 pipeline projects.
The V PARK Chavagnes-en-Paillers scheme, located at the crossroads of Nantes, Angers, Niort and Le Mans, will comprise three buildings. The first phase, a 19,000sqm platform, is currently under construction and scheduled for delivery in the first quarter of 2026.
Grégory Blouin, president of Virtuo Ingustrial Property, said: “Together with TPG Real Estate and Intervest, we are giving tangible form to our purpose: designing logistics spaces that reconcile economic efficiency and environmental responsibility.
“Through these six new projects, we aim to demonstrate that logistics can be a positive force for territories, a driver of innovation, and a key contributor to the low-carbon transition.”
Joel Gorsele, CEO of Intervest, said: “Partnering with a best-in-class developer in the French market such as Virtuo, with a proven track record of sourcing, delivering and leasing high-quality logistics schemes tailored to tenants’ evolving needs, perfectly aligns with Intervest’s strategy to expand our sustainable logistics footprint across Europe.
“Together, we are creating modern, efficient and future-ready facilities that support our customers’ growth while advancing environmental responsibility.”
Jean-Charles Prido, executive director at Cheyne Capital, said: “Our facility underpins a shared ambition to deliver high-quality, sustainable assets that respond to strong occupier demand in undersupplied French markets.”
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