SFO Capital Partners and Edmond de Rothschild REIM, acting on behalf of its fund, Smart Estate Fund 2, have entered into a JV to forward fund the development of a portfolio of two sites of logistics located in key hubs of Paris and Lyon.
The portfolio will comprise three buildings, totaling 62,248 m2 of leasable area, and will adhere to the highest technical and environmental standards by achieving BREEAM Excellent, BiodiverCity and HQE Aménagement Durable certifications.
Mohamad Abouchalbak, CEO at SFO Capital Partners, said: 'Following the Netherlands and Italy, we are now entering another major European logistic market. We are equally excited about the strategic partnership with Edmond de Rothschild REIM, marking the beginning of a promising collaboration.'
Caroline Demol, fund manager of Smart Estate 2, said: 'This transaction marks the first investment of Smart Estate 2 and fulfils a strategic allocation to this sector, by capitalising on reshoring and supply chain shortening, as well as building divisibility, post market repricing. This acquisition has been made possible thanks to Edmond de Rothschild REIM (France) strong deal sourcing and loan origination capabilities, as well as thanks to a fruitful and productive collaboration with SFO Capital Partners.'
The assets will be developed by JMG Partners.
SFO Capital Partners and Edmond de Rothschild REIM were advised by Screeb (Aurélien Bourdet), Gide Loyrette Nouel (Hugues Moreau), Theop for technical aspects and BNP Paribas Real Estate.
JMG Partners was advised by Allez & Associés (Guillaume Chemithe) and by Alcaix (Louis Picarle), with CBRE and JLL acting as brokers.
The investment is being financed by Banque Palatine as agent, and Banque Populaire Rives de Paris, which was advised by 14 Pyramides.
The assets are located in Vaires-sur-Marne and Mionnay within major industrial and distribution activity sites along the so-called French logistics backbone characterized by robust demand levels, near-zero vacancy rates and double-digit rental growth.
