Valor Real Estate Partners, the last-mile real estate specialist, has acquired four urban warehouse assets in Lyon and Berlin for a total value of €50 mln.
The off-market deals have been announced at the same time as the appointment of Michael Vidamant and Flavien Caminati as senior VPs in France and Korbinian Kirchner as senior VP in Germany.
One of the Lyon assets is located in Corbas, a prime submarket is the eastern sector of the city. The 10,000 m2 urban logistics park is currently 90% occupied by 11 tenants primarily in the 3PL sector.
The second asset is also in east Lyon, in the Chassieu submarket where Valor has elected to buy a vacant 5,000 m2 warehous, from a private seller.
In Germany, the company has acquired a 43,000 m2 property in Ahrensfelde, a Berlin sub-market located north-east of the city centre. The other Berlin asset is a 19,900 m2 property in East Berlin comprising two distribution warehouses in a short-term sale and leaseback from a private seller. It is located in Neuenhagen, less than 35 minutes’ drive time from Berlin’s city centre.
