MGPA, the private equity real estate investment advisory company and Concerto European Developer (Concerto) today announce that 43% of the Logiffine logistics park development in Lille has been let to Group Bils Deroo.
The Lille site covers 42,000 m² in total and has been built to a very high specification. It benefits from excellent transport links. The building is located in the Parc d'Activités des 4 Vents in Hem (59) near Lille.
The agreement with Group Bils Deroo covers 18,000 m² and three out of the seven units on the site. The lease covers a nine year period. CB Richard Ellis has advised both sides of this transaction.
MGPA, on behalf of its managed fund MGPA Europe Fund II began a partnership with Concerto in 2006, in which MGPA Europe Fund II holds a majority stake in Logiffine. Delivering on its original investment strategy, Logiffine aims to build a portfolio of logistics facilities in France to fill a gap in the market for technologically up-to-date, high quality facilities in good locations.
MGPA CEO Europe, Alex Jeffrey said, "There has been a real gap in the market for high quality logistics facilities that are well located for transport serving destinations not only in France but all of Europe. Our facilities are successfully filling that gap and we are delighted to have secured Simastock (Group Bils-Deroo) as our tenant in Lille. We will continue to work closely with Concerto whose experience in developing logistics parks is invaluable for this venture."
Concerto Chairman Ariel Lahmi, said, "Simastock's leasing in Lille is the result of ambitious but wise anticipations of future logistics needs in the North of France, and underlines the fact that facilities complying with the strictest quality standards can meet its tenants needs, including in challenging market conditions. Our partner, MGPA's involvement enables Logiffine to benefit from its outstanding expertise in real estate finance structuring, and is one of its key assets".
Jérôme Lesur from CB Richard Ellis Lille who acted as an agent on both sides concludes, "This new regional logistics transaction confirms CBRE's positioning and nation-wide coverage in this sector. This transaction is significant for the Lille area. It is the latest large-scale logistics project completed in a sector where the current property offer is limited and where local users have a real need to develop their logistics sites in favor of new generation warehouses."
Source: CitiGate
