Global alternative investment manager Ares Management Corporation has emerged as the buyer of a portfolio of nine industrial assets located along France’s main logistics corridor, the French Dorsal Axis, from funds managed by Blackstone.
The €300 mln+ portfolio comprises approximately 360,000 m2 of logistics space in France’s prime logistics markets, including Paris, Lyon and Marseille.
The portfolio is fully leased to a diversified set of national and international blue-chip tenants. Additionally, the properties reflect grade A specifications and a high standard of requirements for modern tenants.
'The French logistics market continues to demonstrate strong fundamentals and limited supply of prime assets in key locations,' said Wilson Lamont, co-head of European Real Estate in Ares Real Estate. 'This transaction highlights our continued conviction in the logistics sector and serves as an example of our selectivity and ability to swiftly execute on attractive opportunities in today’s market.'
Ares Management was advised by BNP France. Blackstone was advised by JLL and Eastdil.
