Valor Real Estate Partners, Europe's fastest growing last mile real estate specialist, has completed the acquisition of a 7,000 m² ultra last-mile logistics building in Romainville, just 2km from Paris, on behalf of its joint venture with QuadReal Property Group. The off-market transaction from a private seller will undergo light refurbishment to enhance environmental performance and ESG credentials.
Built in 2006, the property occupies a 10,000 m² plot featuring best-in-class specifications including a 35m yard and 10m clear height. Acquired with vacant possession, Valor can immediately commence its refurbishment programme to meet strong market demand in Romainville—one of Paris's most competitive infill industrial submarkets and a preferred location for e-commerce businesses.
The site benefits from immediate access to the N3 road and is only five minutes' drive from both the A86 (Paris second ring road) and the A3 motorway. This acquisition adds to Valor's 175+ asset portfolio representing more than €4bn of AUM across Europe's fastest-growing cities, with approximately €200m invested in the Paris market over the past 12 months.
"We are very proud to have been able to secure this off-market transaction in one of the most infill and sought after Paris industrial submarkets. Despite current macro environment uncertainty, we are seeing continued demand across Paris for modern, sustainable warehouse space that enables occupiers to access consumers in a very short drive time,"said Ben Brunschwig, Principal at Valor.
"This is an attractive acquisition and one that is firmly aligned with our global investment strategy of targeting high growth urban logistics hubs in key markets, of which Paris is certainly one. Together with Valor we have built a high-quality portfolio of well-located industrial and logistics assets representing over 625,000 m² of space across Europe and the UK," added Thomas Blangy, Senior Vice President at QuadReal.
