Harbert Management Corp. (HMC), an independent U.S.-based alternative asset manager focused on real assets, and DeA Capital Real Estate, a player in real estate investment management in Europe, through a joint venture have acquired an initial 73,000-square meter (785,765-square-foot) portfolio of business parks in France. The acquisition, completed by HMC’s European Real Estate platform (HERE), underlines HERE’s continued conviction in modern, well-located industrial formats that benefit from resilient occupier demand and constrained new supply.
The transaction comprises seven forward-funded new-build assets across France in Croissy-Beaubourg (Île-de-France), Mondeville (Caen), Petit-Couronne (Rouen), Ludres (Nancy), Chasseneuil (Poitiers), Marck (Calais) and Le Mans. Financing was provided by a banking pool. Financial terms have not been disclosed.
The sites have been acquired from developer Axtom. The assets are scheduled to be delivered by Axtom’s subsidiary
