Ivanhoé Cambridge has acquired a 36,000 m2 warehouse project in Roye, midway between Paris and Lille, from developers Catella Logistic Europe.
Financial details were not disclosed.
The scheme is scheduled for delivery in Q4 2021. According to the buyer, the site could also accommodate the construction of a 5,600 m2 freight facility complementing the main building and dedicated to transportation/logistics for industry, distribution and e-commerce operations.
In February 2020, Ivanhoé Cambridge acquired the Hub&Flow logistics assets portfolio, active in the primary Paris and Lyon hubs. With the addition of this new property, the Hub&Flow portfolio will comprise 18 assets totalling 466,000 m2.
Arnaud Malbos, head of investments, Europe, Ivanhoé Cambridge, said: 'This new transaction opens up new perspectives for expansion of the Ivanhoé Cambridge logistics portfolio in continental Europe.
'The acquisition of the warehouse in Roye will especially strengthen Hub&Flow’s geographical complementarity in France.'
The new logistics asset is on target for Breeam Very Good certification and has capacity for up to two users. It will be built on a former brownfield site, contributing to France’s national goals for sustaining biodiversity and circular economy objectives via the recycling of demolition materials.
Catella Logistic Europe will oversee construction, marking the start of a partnership with Ivanhoé Cambridge built around a shared pan-European development strategy.
Groupe Panhard, which already supervises asset management of the portfolio, will assume that role for the new warehouse development.
Thierry Bruneau, president, Catella Logistic Europe, added: 'This new collaboration with Ivanhoé Cambridge is materialising with this first project, which aligns with Catella Logistic Europe’s property development strategy of delivering innovative, inclusive solutions for the logistics industry that create land value.'
Ivanhoé Cambridge was advised in this transaction by Allez & Associés, Gide Loyrette Nouel, Panhard, Etyo and BNP Paribas Real Estate.
Catella Logistic Europe received guidance from Reed Smith, Haussmann Notaires, Gnat Ingénierie, Top Management and Catella Property Consulting. The transaction was concluded by Arthur Loyd Logistique.
