Urban real estate specialist Thor Equities Group has acquired a logistics asset situated near Paris, marking the firm's entry into the French logistics market, and its 17th investment in Europe within the past year.
Financial details were not disclosed.
The property at 36 avenue 8 mai 1945, in Villeneuve la Garenne, is a 6,121 m2 asset comprising two units, which includes 306 m2 of office space.
The majority of the asset is currently let to the local authority, Mairie de Levallois Perret. The property serves as an ideal last-mile logistics location and provides quick and efficient access to Paris and the A86 beltway.
Chairman of Thor Equities Group, Joe Sitt, said: 'The Villeneuve la Garenne transaction represents our first French industrial acquisition and is another step forward in diversifying our logistics platform abroad.
'We continue to seek well positioned properties in key distribution hubs globally as the demand for e-commerce continues to gain momentum and look forward to broadening our exposure in Europe.'
