A fund advised by JP Morgan Asset Management has acquired a logistics platform of approximately 63,000 m2 located in Châtres, France, from a fund managed by Amundi Immobilier.
Financial details were not disclosed.
The warehouse is located 40 kilometers south-east of Paris, within the ZAC du Val Bréon, a logistics park acclaimed by a large number of users and investors specialising in logistics.
In the immediate vicinity of the N4 and N36 national roads, the site benefits from direct and quick access to the national road and motorway network.
The property is a storage and distribution warehouse developed between 2005 and 2007, divided into 11 cells of approximately 6,000 m2.
It benefits from class A specifications specific to the latest generation warehouses and also has three office plots, two charging rooms, 308 car parking spaces and 73 HGV parking spaces. Nine cells are occupied by a leading 3PL, operating on behalf of renowned players.
Jean-Philippe Vergnol, JP Morgan Asset Management Real Estate France, said: 'We are delighted to have the opportunity to acquire this quality warehouse in the Paris region.
'This operation is the first acquisition of our latest investment fund and demonstrates our strong belief in the logistics asset class.
'Indeed, this sector has demonstrated its resilience over the last 12 months, in a context where users are increasingly demanding more storage space in a tight environment in terms of supply. We are actively looking for similar opportunities in the form of single assets or portfolios.'
Crédit Agricole CIB, as arranger and agent, is financing the acquisition of the property by means of a mortgage loan.
The buyer was advised by Cheuvreux, Gide Loyrette Nouel, Lacourte Raquin Tatar, Allen & Overy, Arcadis, Ramboll, Longevity, Andine Groupe, Etyo, Chatham Financial, Cushman & Wakefield Capital Markets, and Axess.
The seller was advised by Study Allez et Associés, BNP Paribas Real Estate Transaction France, CBRE, Environnance, and Cushman & Wakefield Asset Services France.
