Blackbrook has made its first investment in France, notching up the seventh market it has entered since its maiden investment two years ago.
The specialist European real estate investor describes itself as ‘focusing on future-proof supply chain infrastructure’.
Its French investment is a 50,000 m2 logistics facility in the Southeast of Paris.
The development has been sustainably designed to achieve a BREEAM ‘Excellent’ certification.
Jon Strang, MD at Blackbrook, said the Paris market was supply-constrained with record low vacancy in the city’s immediate vicinity.
‘This has made areas in the Parisian 4th ring highly attractive to occupiers, where they can save materially on total occupier costs and gain access to a large workforce. We are very excited to be bringing to the market a new and fully optimised facility to meet this growing demand.’
Arvi Luoma, co-Founder and CEO, called the deal a ‘milestone’ for Blackbrook. ‘The French distribution network relies heavily on road transport while the e-commerce sector is rapidly growing and now the 5th largest in the world, both driving tenant demand for sustainable and efficient logistics assets.'
'This investment therefore encapsulates our core-strategy of investing in future-proof supply chain infrastructure, and our ambitions to expand our footprint in new and compelling European markets.’