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PGIM Real Estate and Alderan announce strategic partnership in logistics
Investors - FEBRUARY 9, 2021

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PGIM Real Estate and Alderan announce strategic partnership in logistics

by Released

PGIM Real Estate and Alderan have announced the conclusion of a strategic partnership dedicated to the acquisition and management of logistics platforms in key catchment areas in France.

OPPCI Organa III, launched in March 2018 by Alderan, holds a portfolio of eight logistics and business assets spread across the Paris Region, the logistics backbone, the Madrid region and other established logistics zones benefiting from strong economic and demographic dynamics.

As part of this exclusive partnership, PGIM Real Estate's pan-European core-plus investment strategy has acquired 90 percent of the shares of OPPCI Organa III. The remaining 10 percent are retained by OJIREL, the initial sponsor of the Organa III fund. Alderan will continue to manage the vehicle, with the objective of growing the portfolio and its net rental income.

As of Dec. 31, 2020, the portfolio, with a size of 156,000 square meters (1.7 million square feet) had an occupancy rate of 90 percent and g

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