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CORELOG, the logistics vehicle of TwentyTwo Real Estate acquires a portfolio of warehouses from Affine

By 2 November 2015January 18th, 2024No Comments

CORELOG has completed the purchase of a portfolio of five warehouses from French listed company Affine for a total consideration of €42.2m.

CORELOG is an OPPCI (French private REIT) dedicated to investments in logistic and industrial properties and has recently been set up by TwentyTwo Real Estate and Massena Partners on behalf of a common investment vehicle.

This acquisition was financed with a mortgage debt facility provided by the bank CA-CIB. The OPPCI is managed by Swiss Life REIM. Scaprim Services has been appointed as asset manager and property manager of the portfolio and announces the recruitment of Armand Sueiras as responsible for logistic investments.

The portfolio acquired includes logistics platforms located in France on the North-South logistic axis in Bussy-Lettrée (51), Maurepas (78), Saint-Etienne Molina (42), Saint-Cyr-en-Val (45) and Saint-Germain-Lès-Arpajon (91).

For TwentyTwo Real Estate, this transaction and, in a broader sense, the creation of this new logistics platform alongside Massena Partners, is part of its strategy to significantly develop its real estate investment activities.

In this transaction, the OPPCI Corelog was advised by SCAPRIM Asset Management, Arthur Loyd Asset Management, the legal firm Archers, the notary office Allez & Associés and Swiss Life REIM; CA-CIB was advised by the legal firm Fieldfisher Waterhouse and the notary office Ginisty. The notary office for the seller was Haussmann Notaires.