BNP Paribas REIM, acting on behalf of its Eurozone Logistics Fund (ELF) managed by BNP Paribas REIM Luxembourg, has closed two additional grade A logistics transactions in November 2019.
The first one is located in the Milan inner logistics market, in Liscate. This new warehouse from 2017 has a total lettable area of approx. 15,000 sqm and is fully let to an Italian third-party logistics for a secured duration of 6.5 years.
The second one is located in Amblainville, in the Oise department considered as Paris logistics market. Built in two phases (2016 and 2019), it displays approx. 85,000 sqm of lettable area and is let to a global home and furniture player for a secured duration of 6 years.
Combined, these two transactions represent a total investment volume of approx. EUR 85 million. The fund has now invested over 50% of the equity commitments from investors.
Lucas Despretz, Fund Advisor of ELF, comments: “These two off-market acquisitions contribute to the geographical portfolio diversification since Liscate is the first fund transaction in Italy and Amblainville the second one in France. The portolio is now composed of 7 income producing assets and should further expand by the end of the week with another acquisition in the Netherlands”.
ELF fund is a SICAV-SIF based in Luxembourg, dedicated to international institutional investors. It offers geographical diversification within the Eurozone logistics sector to international institutional investors.