Valor Real Estate Partners, a European specialist in last-mile logistics, has acquired four urban logistics assets in Lyon and Berlin for a total consideration of approximately €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 Corbas, a top market on the ring road east of Lyon, Valor acquired a 10,000 m² urban logistics park, 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 the east of Lyon, in Chassieu, Valor acquired a vacant 5,000 m2 logistics warehouse from a private seller. Valor will completely renovate the asset to deliver a highly functional cross-dock asset by June 2023, suitable for operators specializing in last mile logistics.
Located 6 kilometers from the Lyon ring road, the two assets offer excellent accessibility to the entire Lyon metropolitan area via the A46 and A43 motorways, as well as to the entire Rhone 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 Ahrensfelde, a market northeast of Berlin, Valor acquired a site with 43,000 m2 of land, including four cells with a total of approximately 19,000 m2 of buildings. The property is strategically located near the A10 motorway and is occupied by Bergman & Franz, a wholesaler of bathroom and kitchen appliances.
In a second transaction in Berlin, Valor acquired 19,900 m2 of assets consisting of two distribution platforms in the context of a short-term sale and lease back from a private seller. Located in Neuenhagen, less than 35 minutes from central Berlin, these highly functional warehouses cater to a wide range of users in the SME, 3PL and light industrial sectors.
Korbinian Kircher will be based in Munich and together with Camila Malzkorn he will be responsible for accelerating Valor’s investment activity in last mile logistics assets, notably 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. Together with Frankfurt and Hamburg, we see population growth and a shortage of last-mile logistics space as important opportunities for specialist investors. These trades, together with our new speculative development near central Berlin, underline our ability to identify and execute trades across the risk spectrum to build a portfolio of significant size to meet growing demand. president of Valor.
“Lyon is one of the main European agglomerations, experiencing strong demographic growth year after year and where we see many industrial sites being converted into housing or tertiary projects, which limits the future possibilities for developing logistics areas,” explains Ben Brunschwig, Senior Vice President. Our excellent market relationships have enabled us to acquire two assets in areas where supply is very limited and where we expect strong growth in rents and market value. »
For the Corbas transaction, Valor was advised by: STC (broker), Oudot & Associés (notary), Hogan Lovells (real estate law), Simmons and Simmons (taxation and structuring), AMF-QSE (TEDD). In Chassieu, Valor is surrounded by: JLL (real estate agent), Oudot & Associés (notary), Hogan Lovells (real estate law), Simmons and Simmons (taxation and structuring), AMF-QSE (TEDD) and Les Ateliers 4+/ Quadribat (architect and construction). For these operations 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) .