BNP Paribas REIM, acting on behalf of its Eurozone Logistics Fund (ELF) managed by BNP Paribas REIM Luxembourg, has closed two additional grade A logistics transactions. The first asset is located in the Milan inner logistics market in Liscate. This new warehouse, developed in 2017, has a total lettable area of approx. 15,000m² and is fully let to an Italian third-party logistics for a secured duration of 6.5 years. The second property is located in Amblainville, in the Oise department considered as Paris logistics market. Built in two phases (2016 and 2019), it offers c. 85,000m² of lettable area and is let to a global home and furniture player for a secured duration of 6 years. Combined, these two transactions represent a total investment volume of c.€85m.
Lucas Despretz, Fund Advisor of ELF, comments: “These two off-market acquisitions contribute to the geographical portfolio diversification since Liscate is the first fund transaction in Italy and Amblainville the second one in France. The portfolio is now composed of 7 income-producing assets and should further expand by the end of the week with another acquisition in the Netherlands”.
