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15 Sep 22

Alpha Logistics Real Estate acquires and manages on behalf of Europa Capital a 48,000 sqm logistics platform near Nantes

Europa Capital and Alpha Logistics Real Estate (ALRE) have joined forces for the first time to acquire a 48,000 sqm logistics platform in Grandchamps-des-Fontaines, north of Nantes (Loire-Atlantique). This transaction confirms ALRE's commitment towards all types of logistics assets, including XXL Core assets. ALRE advised Europa Capital on the acquisition and will be the asset manager of the asset.

This XXL class A logistics platform delivered in November 2020 meets all the technical and environmental criteria of a latest generation warehouse. Built with a concrete structure, it is made up of 5 cells, one of which allows for the storage of hazardous products. It is certified BREEAM NC Good, which will soon be upgraded to In-Use Very Good. A program of minor adaptations to the facilities has also been anticipated to meet the long-term objectives of the Tertiary Decree.

It has been fully leased since its delivery under a 12-year lease to Lidl, a leading and fast-growing player in European distribution, for its management activity of products promoted in its stores. The Nantes platform, along with two others of this type, completes Lidl's national network. This facility is strategically located along the N137, which serves Nantes and Rennes, and provides access to the French West.

With this transaction, ALRE maintains its strategy of identifying and realising the best investment opportunities in logistics on behalf of institutional investors, in areas with a strong imbalance between supply and demand. “In a context of high inflation and a shortage of XXL class A logistics assets nationwide and in the Greater West of France in particular, this investment offers the best guarantees of resilience and performance over the long term” emphasises Bruno Cohen, founding partner of ALRE, who added :  “The Nantes deal paves the way for others with our new investor partner, Europa Capital."

With this new Core investment, and following its recent Core+ and Value-added acquisitions, Alpha Logistics Real Estate once again demonstrates its ability to position itself on all risk profiles in logistics, most frequently in off-market transactions. This acquisition is the 4th in 2022 for ALRE, which can already announce to be in exclusive study on other opportunities.

The buyer was advised by the notary firm C&C, the law firm Mayer Brown and Etyo for the technical and energy due diligence.