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Optimus Portfolio
A Core-Plus portfolio of 11 well-located logistics assets totalling 340,000 sqm, in a sale-and-leaseback transaction with a blue-chip corporate tenant. Income producing from day one. Embedded optionality gives rise to multiple avenues for business plan value creation, returning attractive risk-adjusted returns.
Investment Strategy
- There is strong investor demand for institutional French logistics products. The French market is relatively opaque and difficult to access vs other European logistics markets. The portfolio of 11 logistics assets in France presents a rare mix of quality products in micro locations in a difficult to access market.
- The portfolio is split into two distinct strategies: approximately half of the assets will be on long leases, hence considered a core product. The remaining half are on shorter leases. offering an attractive opportunity for value creation either through re-gearing, refurbishment or re-leasing.
- Optimus is well-connected to key infrastructure nodes and in close proximity to the established metropolitan areas along France's North-South and East-West axes. providing this opportunity to achieve rare scale in an attractive and resilient French logistics markets.
- Income-producing through majority of hold period; blended Core-Plus profile is attractive diversifier for the Fund.
At a glance
Location
Various locations, France
Property Type
Logistics
Building Details
340,000 sqm.
Tenant
Auchan
WALT
9.5 years
Occupancy
100%
Transaction Details
Acquired
Q3 2021
Net Purchase price
Eur 285-290 million
Business Plan
Long-term hold
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