Valor Real Estate Partners (“Valor”), Europe’s leading last-mile logistics specialist, has acquired, on behalf of its joint venture with QuadReal Property Group (“QuadReal”), a global real estate investment, development and operating company, a prime development site in Aulnay-Sous-Bois, Paris, where it intends to deliver a c. 5,000 sqm state-of-the-art urban logistics scheme.
The off-market transaction is the investor’s second in Northern Paris this year following its recent Mitry-Mory acquisition, a market characterised by increasing competition for land from higher value use classes and lack of modern stock. It takes Valor’s total pipeline in France to nearly €300 million.
Targeting a BREEAM ‘Very Good’ certification, the high specification scheme will total four units, making it suitable for both single and multi-tenant use. Due to practically complete in Q1 2026, features will include a 33-meter yard depth, dock ratio of 1:633 sqm and solar panels.
Aulnay-Sous-Bois is one of the most competitive urban logistics submarkets in Paris, strategically positioned at the intersection of the A1 and A3 motorways, close to Roissy Charles de Gaulle Airport (14 kilometres), and where a new metro station currently under development has further increased competition for land.
Jonathan Muller, VP at Valor Real Estate Partners, commented: “Demand from 3PL and distribution occupiers for high-quality, sustainable space across Europe’s leading e-commerce centres has remained consistent, despite the continued macro volatility. We have a laser like focus on critically undersupplied submarkets, which benefit from excellent connectivity, enabling us to leverage our increasingly active development platform to generate consistently strong returns. What’s more, this redevelopment of a brownfield site is a perfect illustration of the virtuous approach we are implementing as part of our ESG commitments.”
Victor Massias, Partner, Head of Developments, at Valor Real Estate Partners added: “This new acquisition cements Valor’s ambitions to become one of the leading urban logistics developers in Europe. Our recently launched programs situated in Mitry-Mory (North Paris) and Zwanenburg (Netherlands) evidence our capacity to expand in strategic submarkets, while remaining disciplined on the functionality of our products.”
Thomas Blangy, Senior Vice President at QuadReal added: “Our latest acquisition with Valor demonstrates how the joint venture continues to build a portfolio of high quality industrial and logistics assets, aligned with our global investment strategy targeting high-growth markets. When complete, this investment will bring our joint footprint to over 630,000 sqm across Europe and the U.K.”
Valor was advised by Oudot (notary), S&S (financing and structuring), Hogan Lovells (legal construction) and LA4P (construction/architects).
