Realterm acquires 15-property logistics portfolio in France totaling more than 73,000 sqm
Amsterdam, Netherlands (October 27, 2022) – Realterm announces the acquisition of a highly differentiated 15-property logistics portfolio in France. Located around major French cities such as Paris, Marseille, Toulouse, and other key urban areas, the portfolio of cross-dock properties totals more than 73,000 square meters and is fully leased to a roster of premier tenants, including XPO Logistics.
“The French logistics market is characterized by a strong supply/demand imbalance, with record low vacancy and incredibly strong demand. Very few new properties are coming to market given the limited availability of land and the difficulty in obtaining permits,” said Hugues Tallandier, Head of Investments, Southern Europe, Realterm. “Transportation-advantaged logistics facilities accelerate the efficient flow of goods through the supply chain and are in strong demand across Europe. As a result, rents are rising, making this portfolio a notable addition to our European holdings.”
These are the first properties acquired by Realterm in France. The company is focused on mission critical, transportation-advantaged logistics real estate with high flow through characteristics, designed to move – not store – freight. In the United States, XPO Logistics leases 27 Realterm properties totaling more than 130,000 square meters on 568 acres, with 2,518 doors.
“The existing leases on these properties are fully inflation linked with a very attractive mark-to market opportunity over the next few years. These represent exactly the type of assets we will pursue in what could be an unpredictable market where the ability to grow income will be essential to generate our target return,” said Alberto Radice Fossati, Fund Manager, Realterm. “As part of this acquisition, we are particularly delighted to add XPO Logistics, one of our key global clients, to our European platform.”
Highlights of the portfolio include:
- Square meters: 73,000 sqm
- Average site coverage: 20 percent
- Average door ratio: One door / 88 sqm
R&D Notaires and Fairway represented Realterm on the notarial and legal aspects of this transaction respectively, ETYO was a technical and environmental advisor, Longevity Partner an ESG advisor and JLL, Realterm’s buy side broker. The transaction was marketed by CBRE and BNP.
A photo of one of the properties located in Paris can be found here and credited to Realterm.
Realterm is an independent global investment manager focused on the transportation industry. We acquire, develop, finance and manage differentiated real estate and infrastructure assets serving land, air, sea and rail networks in North America, Europe and Asia Pacific. Realterm currently manages over $13.5 billion in assets across six transportation logistics-oriented private equity fund series: Realterm Airport Logistics Properties (RALP), an open-end, core-plus fund investing into high flow through (HFT®) on-airport logistics real estate throughout North America; Realterm Logistics Income Fund (RLIF), an open-end, core-plus fund, and the Realterm Logistics Fund (RLF) Series, a closed-end, value-added fund series, both of which invest into HFT surface transportation logistics real estate throughout the U.S.; Realterm Europe Logistics Income Fund (RELIF), an open-end, core-plus fund, and Realterm Europe Logistics Fund (RELF), a closed-end, value-added fund series, both of which invest into HFT logistics real estate throughout Europe; and IndoSpace Logistics Parks (ILP), a closed-end, opportunistic fund series investing into warehouse and logistics real estate throughout the top industrial markets in India.