AXA Investment Managers – Real Assets (AXA IM – Real Assets) has agreed to acquire, by way of forward funding and on behalf of clients, a prime logistics development site in France’s logistics Atlantic Corridor from the French developer Quartus Logistique who will be retained as developer.
The site, which is due to complete in the third quarter of 2021, will comprise c.30,000 sqm of modern and flexible Grade-A logistics space, spread across five units and complete with wrap-around offices and plentiful parking spaces.
Strategically located in Ayguemorte-les-Graves, to the south of Bordeaux, France, the site benefits from excellent power and transport infrastructure links, as well as a good supply of local labour. The site sits in close proximity to the A62 (connecting Bordeaux to Toulouse). The area benefits from strong underlying demographics, with Bordeaux being ranked in France’s top ten most populated cities.
This transaction furthers AXA IM – Real Assets’ exposure to one of France’s emerging logistics markets, and adds to its c. €2.2bn European logistics portfolio.