Hines has strengthened its position in the logistics sector with the acquisition of the Onyx portfolio in France on behalf of the HEPP (Hines European Property Partners) fund from SEGRO, on behalf of SELP (SEGRO European Logistics Partnership). The assets, representing 130,000m2, offer real potential for value creation and are all located in major French logistics transport hubs.
The assets are located at strategic points on the French main freight line; four in the lle-de-France region within the leading logistics hub of Saint-Ouen-l'Aumone, and a fifth at Oignies, south-west of Lille, in the Hauts-de-France region. These platforms are leased in their entirety to eight first-class logistics providers.
“We are convinced that logistics remains an asset class to be favoured. With these new acquisitions, we are confirming our conviction in the sector. The financial capacity of our discretionary funds enables us to be highly responsive in mobilising our available equity,” commented Xavier Musseau, President of Hines France.
Utilising Hines' expertise in asset management, HEPP intends to modernise the sites within five years to bring them up to high technical standards and meet industry-standard ESG criteria, particularly in terms of operational decarbonisation. The aim is to obtain BREEAM ‘in-use excellent’ certification for the entire portfolio.
Hines SGP was advised in this transaction by the law firm Lacourte Raquin Tatar, the notary firm Lasaygues, De Gaulle Fleurance for tax matters, BFL for structuring/corporate aspects, Etyo for technical and environmental aspects, BNPP RE for commercial matters and Mayer Brown for arranging the financing. Knight Franck and JLL acted as agents for the transaction. BNPP CIB financed the deal via a green loan, and was advised by Dechert and Wargny Katz.
Image source - Hines.
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