Real I.S. AG has acquired a logistics portfolio in Mer nearby Orléans for its BGV VIII EUROPA real estate special AIF and REALISINVEST EUROPA, an open-ended real estate fund for private individuals.
The vendor is AXA IM – Real Assets, acting on behalf of clients. The parties have agreed to keep the purchase price confidential.
The portfolio comprises three logistics properties with rental area totalling around 123,000 sqm and a total storage area of 118,000 sqm fully let to three tenants with excellent credit ratings in France’s fourth largest logistics location.
The three new contemporary Class A core logistics properties A, D and E were completed in July 2020, with building E already finished by the fourth quarter of 2019. All properties feature the customary ICPE approvals.
“The high quality of the buildings and the tenants, along with the location and transport connections, make the properties compelling. Orléans is France’s fourth largest logistics market after Paris-Île-de-France, Lyon and Lille. Investing in the French logistics market has enabled Real I.S. to give its customers the possibility of participating the growing importance of e-commerce,” said Axel Schulz, Global Head of Investment Management of Real I.S. AG.
“The French logistics property represents the sixth investment for REALISINVEST EUROPA since its launch in November 2019. The acquisition has extended the fund’s regional diversification by adding a new country: Along with investments in Germany, the Netherlands and Austria, it now has one in France,” explained Tobias Kotz, Head of Client Relations & Capital Funding of Real I.S. AG.