Series of off-market acquisitions in Lyon and Berlin for Valor

Chassieu urban logistics site, near Lyon, acquired by Valor
© DR

Valor Real Estate Partners, a European specialist in last-mile logistics, has acquired four urban logistics assets in Lyon and Berlin for a total of approx. €50 million, as part of “off market” transactions. To support its pan-European growth ambitions, Valor has also recruited Michael Vidamant and Flavien Caminati as Senior Vice President in France and Korbinian Kirchner as Senior Vice President in Germany.

In France

In Corbas, a prime market on the ring road east of Lyon, Valor acquired a 10,000 m2 urban logistics park, which is currently 90% occupied by 11 tenants, mainly in the 3PL sector. Valor plans to renovate the cells in the park when tenants leave to improve the asset’s functionality and environmental performance.

Also in eastern Lyon, in Chassieu, Valor bought a vacant 5,000 m2 logistics warehouse from a private seller. Valor will completely refurbish the asset to deliver by June 2023 a highly functional cross-docking asset suitable for operators specializing in last mile logistics.

The two assets are located 6 kilometers from the Lyon ring road and offer excellent accessibility to the entire Lyon metropolitan area via the A46 and A43 motorways, as well as to the entire Rhône valley via the A7, which connects Lyon and Marseille.

Michael Vidamant and Flavien Caminati will be based in Valor’s Paris office and will be responsible for investments.

In Germany

In Ahrensfelde, a market located northeast of Berlin, Valor acquired a site with 43,000 m2 of land, including four cells totaling approx. 19,000 m2 buildings. The property is occupied by Bergman & Franz, a bathroom and kitchen equipment wholesaler, and is strategically located near the A10 motorway.

In another transaction in Berlin, Valor acquired a 19,900 m2 asset comprising two distribution platforms under a short-term sale and leaseback from a private seller. Located in Neuenhagen, less than 35 minutes from the center of Berlin, these highly functional warehouses are suitable for a wide range of occupiers spanning SME, 3PL and light industry.

Korbinian Kircher will be based in Munich and, together with Camila Malzkorn, will be responsible for accelerating Valor’s investment activity in last mile logistics assets, particularly in Berlin, Hamburg, Frankfurt and Munich. Having recently opened offices in Berlin and Munich, Valor continues to strengthen its investment, asset management and development teams.

“Growing Demand”

“As one of the fastest growing e-commerce markets in the world, Berlin is one of our favorite cities where we want to significantly increase our footprint. Along with Frankfurt and Hamburg, we see population growth and a lack of last-mile logistics space as offering significant opportunities for specialist investors These transactions, together with our new speculative development near the center of Berlin, underline our ability to identify and execute transactions across the entire risk spectrum to build a portfolio of significant size to meet growing demand, retail and distribution sectors ,” explains Camila Malzkorn, vice president of Valor.

“Lyon is one of the most important European urban areas, which experiences strong demographic growth year after year, and where we see many industrial areas converted into housing or tertiary projects, which limits the future opportunities to develop logistics areas,” explains Ben Brunschwig, Senior Vice Chairman. Thanks to our good market relations, we have been able to acquire two assets in areas where supply is extremely limited and where we expect strong growth in rents and market values. »

For the Corbas transaction, Valor was advised by: STC (broker), Oudot & Associés (notary), Hogan Lovells (property law), Simmons and Simmons (taxation and structuring), AMF-QSE (TEDD). In Chassieu, Valor is surrounded by: JLL (broker), Oudot & Associés (notary), Hogan Lovells (property law), Simmons and Simmons (taxation and structuring), AMF-QSE (TEDD) and Les Ateliers 4+/ Quadribat (architect and construction). For these transactions in Germany, the investor benefited from the support of: Colliers (broker), CMS (legal and tax), Hollis (TED), as well as Reologis (broker), CMS (legal and tax), Hollis (TEDD).

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