DTZ Investors, Pitch launch €450m logistics JV
DTZ Investors and Pitch Promotion are launching a €450 million ($535 million) partnership to build a portfolio of prime logistics warehouses in France.
“The creation of a new player in the French logistics market is grounded in our analysis of the market and seeks to respond to the growing need for top grade products brought about by the rise of e-commerce and the reorganization of supply chains,” said Alban Liss, CEO of DTZ Investors France, in a statement.
FLF One, a French nonlisted REIT, will acquire land on which will be built state-of-the-art logistics warehouses for a range of high-quality tenants.
Pitch Promotion, a subsidiary of the listed French property developer Alterea Cogedim, will be responsible for the construction of each warehouse. DTZ Investors will manage FLF One’s assets through its regulated fund management subsidiary, DTZ Investors REIM.
FLF One’s principal shareholder will be DTZ Investors Logistics Development Fund I, a