Axa Investment Manager’s real assets arm is to acquire a prime logistics development in France’s “Atlantic Corridor” from French developer Quartus Logistique. The cost of the deal has not been disclosed.
The site, which is due to be completed in the third quarter of 2021, will comprise around 30,000 sqm of grade-A logistics space built to “high environmental standards”.
The development, located near Bordeaux, is said to benefit from excellent power and transport infrastructure links, as well as a good supply of local labour.
This transaction increases the firm’s exposure to France’s emerging logistics market and adds to its €2.2 billion European logistics portfolio.
In November, the firm also acquired Dutch life sciences real estate developer Kadans.
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