Vengrove has completed the acquisition of Parc de Toulon, a multi-let ultra urban logistics asset in Lyon, for €12 million (c. £10.14m).
Completed via an off-market transaction brokered by Core Group, the asset comprises a 7,000m² (c. 75,347ft²) multi-let urban logistics park, built to a high specification.
The acquisition represents the latest French asset for VRE Evergreen Logistics Partners (VREELP).
VREELP invests in light industrial and logistics assets in urban metropolitan areas, logistics corridors and close to transport hubs in and around core cities in Germany, France and the UK.
The urban logistics asset is leased to seven occupiers, including a range of global and domestic companies.
Will Hunting, partner & head of European acquisitions at Vengrove, said: “Growing VREELP’s exposure to France is a priority for Vengrove, and Lyon is one of our key target markets.
“It is particularly pleasing to acquire a high-quality asset in such a central, ultra urban location – physical real estate that is virtually impossible to replicate.
“This is an exciting step in the continued build out of VREELP and Vengrove’s French platform.”
