M&G Real Estate, part of M&G’s €96 billion ($113.4 billion) private markets business, has agreed to acquire and fund the development of a light industrial and urban logistics project in Aulnay-sous-Bois, France.
The €28.6 million ($33.8 million) project was acquired through an off-market transaction on behalf of a joint venture with an Asian institutional client through a separate account mandate. The development will transform a former office property into industrial and logistics space serving businesses across the region.
The investment reflects M&G’s conviction in the light industrial sector, supported by long-term trends including the growth of ecommerce, evolving supply chains and increasing demand for businesses to locate closer to consumers. Limited land availability across the Paris region has also constrained the supply of well-located industrial and logistics assets.
Structured through a forward-funding agreement with French develo
