In a strategic move bolstering its portfolio, Clarion Partners Europe has recently acquired a Grade-A logistics asset spanning 61,769 square meters in Sury-le-Comtal, France. The acquisition, executed on behalf of one of its co-mingled funds, marks a significant addition to Clarion’s investment landscape.
Property Details: Completed in January 2023, the property boasts BREEAM¹ Excellent certification and net zero carbon construction, reflecting its commitment to sustainability. Offering versatility for single or multi-tenant use, the asset is fully leased on a long-term basis to Logistique Alaine, the logistics arm of Groupe Alaine.
Strategic Location: Situated within the “Plaines” Industrial Zone of Saint-Étienne, in the Greater Lyon market, the property enjoys a strategic location. With Lyon merely an hour’s drive away, it serves as a pivotal hub within one of France’s most established logistics markets. Excellent connectivity further enhances its appeal, with proximity to major arterial routes including the A72, A47, and A89, facilitating seamless access to the A6 and A7 highways.
Insights from Clarion Partners Europe: Geoffroy de Guibert, Director at Clarion Partners Europe, emphasized the unique attributes of the acquisition, highlighting its sustainability, income profile, and potential for future reversionary gains. The acquisition underscores Clarion’s strategic vision and commitment to seizing opportunities in high-growth logistics markets.
Rory Buck, Managing Director at Clarion Partners Europe, echoed this sentiment, reaffirming France’s position as a high-conviction market for Clarion. With robust occupier fundamentals and a promising acquisition pipeline, Clarion remains bullish on the prospects offered by the French real estate landscape.
Advisory and Transaction Details: Clarion Partners Europe received advisory support from Wargny Katz (notarial), Gowling WLG (financing and legal DD), Lacourte (tax), and Etyo (technical and environmental DD). On the seller’s side, Le Breton Notaires provided advisory services, facilitating a seamless transaction process.
The acquisition of the logistics asset in Sury-le-Comtal signifies Clarion Partners Europe’s strategic positioning in the thriving French real estate market, reflecting its commitment to sustainable investments and capitalizing on growth opportunities in the logistics sector.
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