Belgian logistics specialist WDP has increased its presence in France with the acquisition of a portfolio of six cross-dock warehouses from GroupeSamfi Invest and Groupe Valinvest.
The properties, totaling over 43,000 m2 of leasable space and situated on 182,000 m2 of land, are strategically located near major motorway hubs in France. Four of the buildings are BREEAM-certified "Very Good."
The warehouses have been leased to high-quality tenants, including Chronopost, Mondial Relay, and Geodis, for an average term of 11 years. These cross-docks play a critical role in the tenants' last-mile delivery networks, serving nearby cities.
The €50 mln investment is expected to immediately boost WDP's earnings per share. Additionally, there is potential for long-term value appreciation due to the reversionary potential of the properties.
Kristof De Witte – country manager WDP Belgium, Luxembourg, and France, said: ‘These acquisitions complement the existing portfolio in France. Indeed, these new sites are of strategic importance given the further diversification in terms of region as well as warehouse type, given the crucial role of cross-dock warehouses for efficient last-mile deliveries.’
In the past year, WDP has committed over €130 mln to new French projects, bringing its total French portfolio to approximately €300 mln.
This investment is consistent with WDP's strategy of diversifying across multiple markets and maintaining a rigorous focus on yield. Year-to-date, WDP has identified potential investments totaling €600 mln with an average yield of around 7%.
WDP specializes in developing and investing in logistics properties, including warehouses and offices. The company's portfolio encompasses over 7 million m2 of prime logistics space across approximately 300 locations in Belgium, France, the Netherlands, Luxembourg, Germany, and Romania.
