Valor completes first Paris urban logistics acquisition on behalf of €1 billion investment vehicle
Valor Real Estate Partners has acquired a prime urban warehouse in Paris for €26 million ($30 million), from a private vendor. Having been active in the Paris market since 2017, Valor’s acquisition is the firm’s first transaction on behalf of its €1 billion ($1.2 billion) investment vehicle, in what is Europe’s most densely populated city.
The 15,000-square-meter (161,458-square-foot) property, which is in the submarket of Garges-lès-Gonesse, north Paris, is within 10 kilometers (6.2 miles) of the 1st Paris ring-road and offers excellent connectivity to the national road network via the nearby A1 and A86. The area is characterized by a shortage of modern warehouse space, with future supply set to be constrained by the allocation of land for residential development.
Valor plans to undertake a full refurbishment of the unit to deliver high-specification distribution space suitable for occupiers in the ecommerce and logistics sectors. The asset sits on a 26,000