Valor and QuadReal launch 1bn urban logistics joint venture
Pan-European logistics platform Valor Real Estate Partners and QuadReal Property Group have for- med a joint venture to invest 1bn in urban logistics assets located in key UK, French and German cities. The strategically important European urban, infill market continues to offer signifi- cant opportunities for nimble and fully integrated managers to generate attrac- tive risk-adjusted returns, commented Christian Jamison, Managing Partner at Valor. QuadReal will be the majority inves- tor in the JV, which will have initial
capital commitments of 440m, while Valor will be responsible for sourcing and managing the portfolio, levera- ging its experience acquiring, deve- loping in-house and managing infill logistics assets employing a value add and develop to hold strategy, the JV will focus primarily on last-mile logistics assets located in the greater metropolitan areas of London, Paris and Berlin, with a secondary focus on major UK and EU gateway cities, such as Manchester, Lyon and Frankfurt. The JV is mandated to acquire proper- ties across the risk spectrum.
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Invesco Real Estate buys Paris 8th s 6-12 rue du Faubourg Saint-Honoré for 270m The health and economic crisis does not (yet) seem to have had an impact on high street retail investment in Paris. Invesco Real Estate, on behalf of a joint venture formed by Bayerische Versorgungskammer (BVK) and Nordrheinische Ärzteversorgung (NAEV), has just closed the acquisition of 6-12 rue du Faubourg-Saint-Honoré, in the 8th arrondisse- ment of Paris, where Prada and Loro Piana deploy their luxury boutiques. These two adjacent and connected prime assets, totalling approximately 5,400 sqm, also include offices and residential. According to BI sources, Invesco has invested around 270m, reflecting a return of 3.15%. The buildings were put on the market in spring 2019 by a Parisian family whose name remains confidential.
The Babel Community and the Banque des territoires will develop a 200m coliving portfolio
Public financial institution Banque des territoires and French coliving operator The Babel Community have joined forces to develop an initial portfolio of six coliving residences worth over 200m. The two entities, which had already initiated a partnership to develop two residences in Marseille and Grenoble (to be delivered in 2021 and 2022), are entering into a joint venture to develop four new residences in Paris, Lille, Bordeaux and Aix-en-Provence. This partnership should enable The Babel Community to accelerate its deve- lopment throughout France. The group aims to open 25 residences by 2025, housing more than 6,000 occupants.
Heard on
Paris is a pandemic-proof market
- Valeria Falcone, European Portfolio Manager and Head
of Real Estate Italy at Barings
So far, the French market has been a slight underperformer
- Simon Wallace, Global Co-Head of Real Estate Research and Strategy at DWS
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56 | Magazine Business Immo #170 Novembre 2020
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