Valor Real Estate Partners has acquired, on behalf of its joint venture with QuadReal Property Group, a last-mile logistics asset in Le Kremlin-Bicêtre, Paris, for c. €10 million (c. £8.79m).
The asset is 3,000m² (c. 32291ft²) and was built in the 1980’s, with the unit fully let to a leading construction materials company and a self-storage operator.
After Valor’s recent leasing success at Arcueil Valor Park where it achieved record rental values, this acquisition continues the JV’s continued operations in Paris’s south Périphérique cluster.
The site is located just steps away from Line 7 of the Paris Métro and within immediate proximity to the Périphérique.
Principal at Valor Real Estate Partners, Ben Brunschwig, said: “This acquisition, the 7th in France this year, expands our Paris urban logistics portfolio underscoring our position as one of the most active investors in last-mile facilities across the city.
“Opportunities to acquire high-quality stabilised assets within the Périphérique are exceptionally rare and demonstrates our ability to identify and execute transactions in one of Europe’s most constrained and competitive markets.”
