Valor Real Estate Partners (Valor) has completed the acquisition of a 26,000m2 Grade-A logistics asset in Dugny, within the Grand Paris regeneration zone, from an institutional English investor.
The property, which was refurbished in 2021 to modern design and sustainability standards, offers 11m clear height and 41 loading docks (1/600 SM ratio), with a 38m vehicle yard. It is fully let to two ecommerce businesses with a WALB of c. 4 years.
The acquisition was part funded by a loan secured from ING, on competitive terms. It represents the second financing transaction between the two companies.
Dugny is a prime north Paris A86 submarket characterised by low-supply of modern logistics space. It is ideally located for e-commerce and distribution businesses, providing unparalleled access to the city centre via the A1 (Paris-Lille motorway) and the Boulevard Périphérique (Paris 1st ring road). The area is at the heart of the 'Grand Paris' regeneration plan and was home to numerous 2024 Paris Olympic Games sites, with future industrial development set to be restricted by limited land availability.
Flavien Caminati, Senior Vice President, Investments, Valor, commented: “This was a rare opportunity to acquire a high-quality, stabilised asset in one of Paris’ most competitive submarkets, that will benefit from the significant investment around the recent Olympics. The asset has recently been refurbished to a high specification and offers excellent connectivity to the centre of Paris and a sizeable urban population, making it ideally-suited for the needs of e-commerce businesses.”
CBRE acted as brokers for the vendor. Valor was advised by Oudot (notary), Simmons & Simmons (financing and structuring), Hogan Lovells (legal audit) and AMF Andine Groupe (technical audit).
Image provided by Valor.
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