FLF One, a French REIT (OPPCI) launched by DTZ Investors REIM in collaboration with Pitch Promotion, a subsidiary of French developer Altarea Cogedim, has announced its first acquisitions.
The fund has recently exchanged contracts for land located on the outskirts of Nantes, in western France.
This follows the acquisition of land in Béziers in southern France in August, on which a 50,000 m2 warehouse will be built. Discussions are underway with potential tenants.
It is planned that Pitch Promotion will develop XXL logistics warehouses on all plots acquired. The properties will be marketed under the Hexa Hub brand.
'These first acquisitions will enable Hexa Hub to offer warehouses in strategic locations with the latest energy and safety standards for companies in the industrial and logistics sectors,' said Christian Terrassoux, founding chairman of Pitch Promotion.
The fund said it intends to continue its acquisitions in 2019 and 2020.
