The Ontario Teachers’ Pension Plan and Boreal IM joint venture (“JV”) announced its latest strategic acquisition in the French logistics market – a 165,000 sqm portfolio of five, fully-let, logistics assets. The transaction marks the JV’s second investment in France, after a first acquisition in Paris in 2023.
The assets consist of:
- Belleville: A 50,000 sqm asset located north of Lyon, built in 2010, and fully let to a pharmaceutical company;
- Étoile sur Rhône: A 35,000 sqm facility built in 2018, located south of Lyon, and let to two French 3PLs;
- Nantes: A 19,000 sqm, part temperature-controlled asset, fully let to a local 3PL;
- Angers: A 42,000 sqm asset, built in 2018, and let to a global contract logistics provider;
- Lille: A 18,000 sqm facility located in Lille’s most developed logistics cluster, built in 2018, and fully let to an international 3PL.
In line with the JV’s commitment to environmental and social responsibility, the intention is to collaborate with the tenants to enhance the ESG credentials of the assets.
Clifford Chance advised the JV on this transaction with a team composed of François Bonteil, partner, David Gérard and Louis-Antoine Frentz, counsel, as well as Antoinette Gru and Samuel Sellam, associates.
The Luxembourg office also advised on the deal with a team composed of Saskia Myners, partner, and Sascha Nolte, counsel.
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