The Ontario Teachers’ Pension Plan and Boreal IM joint venture has made an acquisition in the French logistics market — a 165,000-square-meter (1.8 million-square-foot) portfolio of five, fully-let, logistics assets. The transaction marks the joint venture’s second investment in France, after the acquisition of a standing asset and development plot in Paris in 2023.
The assets are located in Lyon, Nantes, and Lille – core cities within the French logistics “Backbone” and “Atlantic Corridor,” where there is a structural undersupply of logistics assets and limited potential to develop additional space. These investments align with the joint venture’s strategy of targeting assets in supply-constrained locations where occupier demand remains strong, and where there is the potential to improve rental levels in the mid-term.
The assets consist of:
Belleville: A 50,000-square-meter (538,196-square-foot) asset north of Lyon constructed in 2010 an
