Ontario Teachers' Pension Plan (Ontario Teachers’) and Boreal IM’s joint venture (JV) have announced the acquisition of a 149,000m2 portfolio of three, fully let logistics assets in Paris, France, and a 46,000m2 warehouse in the Ruhr region of Germany.
The French acquisition marks the JV’s third significant investment in the country in the last two years. The portfolio in France now stands at 388,000m2. The newly acquired portfolio comprises Bussy Saint Georges, Lagny-le-Sec: Spanning, and Canly.
In Germany, the JV has acquired a 46,000m2 warehouse located 20 kilometers south of Dortmund bringing the total size of the German portfolio to 165,000m2. It has a flexible layout with the possibility of accommodating one to five tenants and features 97% warehousing space, 39 loading doors, and LED lighting throughout.
Jenny Hammarlund, Senior Managing Director, Real Estate at Ontario Teachers’ Pension Plan, said: "The acquisitions further our strategy to build a portfolio in the strongest markets across Europe. These assets are in prime locations and benefit from attractive, long-term supply and demand dynamics. They also offer opportunities to create additional value through active management, strengthening our ability to deliver portfolio diversification and sustainable returns."
Nikos Koulouras, Partner at Boreal IM, said: “This transaction highlights our capabilities in finding opportunities for value creation through focused, high-impact capex and significant embedded reversionary potential. The Paris market is key for our JV and we are confident that our French portfolio is well-positioned to drive outperformance.”
James Farmer, Partner at Boreal IM, commented: "We continue to have strong conviction about the supply-demand dynamics and outlook of the German logistics market. This asset’s prime location, high-quality institutional specifications, and significant rental upside potential align perfectly with our investment strategy."
Image source - Ontario Teachers' Pension Plan.
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