Aviva Investors has acquired a portfolio of three logistics facilities spread across the Orléans, Nantes and Reims regions of France, through a forward funding agreement with Exia.
Located in Toury, Sainte-Hermine and Recy, the three speculative developments, collectively known as Ruby, will be delivered to best technical and environmental standards throughout. This will include the ability to operate with no ongoing fossil fuel usage, whilst each of the Grade A properties are also targeting BREEAM “Excellent” ratings.
All three assets will be constructed with “PV-ready” roof spaces and car park canopies, providing sufficient solar power to meet ongoing energy requirements.
The three sites are expected to provide more than 96,000 sq m of logistics space upon completion, which is currently scheduled for Q4 2024.
The acquisition continues the expansion of Aviva Investors’ European real estate portfolio and capabilities, following the appointment of Edmond de Fels as Investment Manager, to manage Aviva Investors’ real estate investments in France.
George Fraser-Harding, Head of European Funds at Aviva Investors, said: “We are pleased to continue the growth of our European real estate portfolio through this transaction, taking advantage of our position as a strategic buyer in the current environment. These sites are also an opportunity to develop facilities in three fundamentally important logistics hubs, which will be built on strong sustainability credentials. This should allow us to benefit from the strong supply and demand dynamics of the French logistics market for well-located, flexible and high-quality logistics facilities, leading to long-term value and performance within our portfolio.”
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