Tristan Capital Partners’ value-add/opportunistic Fund, EPISO 5, and Arkea Real Estate have completed the sale of 31 logistic assets located across France to four separate buyers for a combined Net Sales Price of circa €85m. The assets formed part of a portfolio of over 80 assets originally acquired by EPISO 5 and Arkea Real Estate in Q2 2020 and Q4 2020. They have been sold to four separate buyers, including family offices, owner-occupiers and institutional investors. EPISO 5 has retained 50 logistics sites in strategic locations as part of a dedicated French logistics and light industrial portfolio. With a current net value of around €300m, the portfolio is around two-thirds of the final target size.
Yassine Berkane, Executive Director of Asset Management at Tristan, said: “The French industrial sector has been a resilient performer throughout the pandemic, highlighting growing investor appetite for well-located logistic assets which are able to provide long-term, secured income. We are encouraged by the success of these first transactions, which have provided strong returns for our investors. The outlook for our remaining 50 assets remains positive and our plan now is to allocate the investment made from this deal and to actively pursue further opportunities in the French logistics and light industrial sector.”
Come Francois, Head of Asset Management at Arkea Real Estate, said: “We are delighted to have been able to exceed divestment targets in terms of return and timing. We look forward to further expanding the number of assets for this platform through future acquisitions.”