Tristan and Catella acquire 50-site French logistics portfolio for €180m

EPISO 5, the real estate fund advised by pan-European investment manager Tristan Capital Partners, and Catella Asset Management have acquired a portfolio of 50 logistics sites across France for €180 million ($212 million), in a major sale-leaseback transaction with leading French transport company Jacky Perrenot.

The portfolio has a weighted average lease to first break of more than nine years and comprises 280,000 square meters (3.0 million square feet) of assets, of which 80 percent are located along the Lille-Paris-Lyon-Marseille corridor. The assets will form the basis of a dedicated French logistics and light industrial portfolio within EPISO 5 for which Tristan Capital Partners is actively pursuing future acquisitions and targeting a €500 million ($588 million) size.

Thibault Ancely, managing director at Tristan Capital Partners, said, “The French logistics market has proved resilient over the past few years despite an incredibly challenging operating envir