log's
300,000 sqm - Lille Region, Valenciennes
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The portfolio was acquired in December 2018 through a share deal with the LOG’S group, a major logistics company in northern France.
The developed “manage to core” strategy required:
- To sign investor-type leases with building users: the entities of the LOG’S group, Verbaudet and Relais Colis
- To develop and deliver two extensions of 15,500 sqm and 18,900 sqm
- To Improve the quality of documentation of land titles
- To regularize the administrative situation of the ICPE and the management of compliance work
The portfolio was sold in July 2021 to a foreign sovereign wealth fund, with the sale generating a double-digit IRR for the investor.
More Details
Location: Lille Region, Valenciennes
Asset class: Logistics
Land plot area: 676,000 sqm
Total area: 300,000 sqm
Green certificates: Breeam Good on the 18,900 sqm extension
Tenant: LOG’S Group subsidiaries, Relais Colis, Ikea, Verbaudet
Date of acquisition: December 2018
Disposal date: July 2021
Risk profile: Core +
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