Aviva Investors has acquired a logistics warehouse under development in the Maine-et-Loire department of France, on behalf of one of its clients. Spanning approximatively 35,000m² of lettable space, the property is located in the ‘Océane’ logistics cluster located near the city of Angers, in western France. The asset was purchased from PRD (Percier Réalisation et Développement) which had been developing the location since 2018. The construction of the warehouse will be undertaken by PRD, with completion expected in the second half of 2021 and is fully pre-let under a long-term lease. The scheme will integrate the latest technical standards with the aim of achieving the BREEAM ‘Good Certification’. The purchase price was not disclosed.
Gregoire Bailly-Salins, Head of Europe Continental Real Estate transactions at Aviva Investors, commented: “We are delighted to have acquired this warehouse, which is already rented to a prime tenant, and to oversee its development into a high-quality facility. With this transaction, we reaffirm our confidence in PRD, which is well-known for the development of high-quality logistics assets. Benefitting from close proximity to major transport networks in the region, such as the A11 Highway, we believe the warehouse will strengthen our overall portfolio under management upon completion.”
Romain Peyronie, Directeur Général of PRD, added: "PRD is a leading French developer-builder of logistics real estate and has been present in the Angers Region for more than 15 years. We are particularly pleased with this transaction demonstrating two great values of PRD: loyalty to its customers and territories, and its perseverance to make its projects succeed. We also salute the professionalism and the partnership spirit with which the Aviva Investors teams conducted this operation”
