AXA Investment Managers - Real Assets (AXA IMRA) has agreed to acquire, by way of forward funding and on behalf of clients, a prime logistics development site in Bordeaux, France.
Financial details were not disclosed.
Situated in the country's Atlantic logistics corridor, the site is being acquired from Quartus Logistique, the French developer specialising in logistics real estate, which will be retained as developer.
Due to complete in the third quarter of 2021, the project will comprise 30,000 m2 of flexible Grade-A logistics space, spread across five units and complete with offices and parking spaces. The property will be built to high environmental standards, to achieve a Breeam ‘Very Good’ certification.
Located in Ayguemorte-les-Graves, to the south of Bordeaux, France, the site sits in close proximity to the A62, connecting Bordeaux to Toulouse.
This transaction furthers AXA IM - Real Assets’ exposure to one of France’s emerging logistics markets, and adds to its €2.2 bn European logistics portfolio.
