AXA IM Alts to extend French logistics footprint with six-asset portfolio
AXA IM Alts has signed a preliminary contract to acquire, on behalf of clients, six class A logistics properties in France from a joint venture owned by CBRE Investment Management and Virtuo Industrial Property.
The 190,000-square-meter (2.05 million-square-foot) portfolio comprises five completed properties, ranging from 20,000 square meters–43,000 square meters (215,000–463,000 square feet), all constructed since 2020. They are 100 percent occupied. Construction of a sixth, 37,000-square-meter (398,000-square-foot) warehouse, in the north of France, will complete by the end of this year.
In line with AXA IM Alts’ global sustainability approach, the completed assets have been built by Virtuo Industrial Property with the aim of achieving a very high ESG standard, having utilized 100 percent LED lights. The three southern assets feature solar PV rooftop panels, exclusively dedicated to tenants’ auto consumption. All the properties are located in strong macro