Global asset manager Aviva Investors has acquired three logistics facilities in France as part of a forward funding agreement with real estate promoter Exia.
Spread across the Orléans, Nantes and Reims regions of France, the three speculative developments, collectively known as Ruby, will provide over 96,000 m2 of logistics space, with completion scheduled for Q4 2024.
The Grade A logistics facilities located in Toury, Sainte-Hermine and Recy will be delivered to best technical and environmental standards throughout.
They will be able to operate with no ongoing fossil fuel usage, whilst each of the properties will also target a BREEAM Excellent rating.
All three assets will be constructed with PV-ready roof spaces and car park canopies, providing sufficient solar power to meet ongoing energy requirements.
George Fraser-Harding, head of European funds at Aviva Investors, said: ‘We are pleased to continue the growth of our European real estate portfolio through this transaction, taking advantage of our position as a strategic buyer in the current environment. These sites are also an opportunity to develop facilities in three fundamentally important logistics hubs, which will be built on strong sustainability credentials. This should allow us to benefit from the strong supply and demand dynamics of the French logistics market for well-located, flexible and high-quality logistics facilities, leading to long-term value and performance within our portfolio.’
Aviva Investors was advised by Allez & Associés, Etyo, Gide Loyrette Nouel, Lacourte Raquin Tatar, while R&D Notaires and BNP Paribas Real Estate Transaction advised Exia on this transaction.
The latest acquisition is part of the continued expansion of Aviva Investors’ European real estate portfolio and capabilities, following the appointment of Edmond de Fels as investment manager in France.
