DAA Capital Partners reached a key milestone in its Logistics Real Estate program with the successful acquisition of a warehouse in the Lyon area of Heyrieux, France.
“We are delighted to close 2021 with our first in a series of real estate acquisitions which perfectly fits our approach to logistics real estate. The industrial asset is located in a strategic logistics hub and offers a very interesting opportunity for repositioning into a future-proof logistic warehouse”, commented Philippe Riachi, co-founder of DAA Capital Partners.
The asset, composed of 4 ground-level doors, with a height to ceiling ranging from 10m to 12m, has a lettable area of more than 11,000 sqm on a land plot of 36,600 sqm. It benefits from an excellent location being within a 20min drive from the center of Lyon and 7km from Isle-D’Abeau, the largest logistics hub in France with 2.2mm sqm of logistics area.
“At the end of the 2-year lease agreement with the current tenant, we will undertake an extensive CapEx program to refit the building into a modern logistics asset. This strategic repositioning is designed to meet the strong demand for logistics space in the area, which is also expected to gain momentum in the coming years” , added Anne-Lorraine de Malliard, Partner at DAA Capital Partners.
“This acquisition marks the first milestone of our investment program in cross-docking and last-mile assets in these strategic corridors of Western Europe. We look forward to adding further assets currently in our pipeline” , stated Alain Dargham, co-founder and managing partner of DAA Capital Partners.