Belgian closed-end real estate fund Warehouse de Pauw (WDP) has said it is to double its portfolio in France by investing EUR 35 mln in the realisation of two new projects in the North of the country. WDP said it has agreed with Van Maercke Immo France for the purchase and joint realization of the projects, which will raise the company's total portfolio in France to 140,000 m[sup]2[/sup].

Belgian closed-end real estate fund Warehouse de Pauw (WDP) has said it is to double its portfolio in France by investing EUR 35 mln in the realisation of two new projects in the North of the country. WDP said it has agreed with Van Maercke Immo France for the purchase and joint realization of the projects, which will raise the company's total portfolio in France to 140,000 m2.

WDP will build a 12,000 m2 industrial project in Seclin and a 60,000 m2 in Libercourt, southern Lille. Completion for the projects is expected in the second semester of 2008. The initial return on the investment on the sites will amount to 8.33% gross, WDP said in a press release.