AG Real Estate France has proceeded with the sale of a portfolio of logistics assets for an amount of ca. €200 million to Allianz Real Estate on behalf of several companies of the Allianz group.
AG Real Estate France has proceeded with the sale of a portfolio of logistics assets for an amount of ca. €200 million to Allianz Real Estate on behalf of several companies of the Allianz group. Investor and asset manager AEW will manage the assets on behalf of Allianz.
The portfolio totals 180 000 m² and is composed of latest generation prime logistics warehouses, let to prestige tenants. Located on the French logistics backbone, these platforms are part of first rate logistics zones in Ile-de-France (Réau), in the Lille region (Onnaing) and the Lyon region (Pont d’Ain and Chaponnay).
Thibault Delamain, general manager of Real Estate France, in charge of investments and asset management stated: “We have compiled a perfectly homogeneous portfolio of XXL assets over the years that meets the stock massification expectations of users. This operation hails the prime asset building and asset management work by our multidisciplinary French teams. This sale is in line with the French logistics strategy of AGRE and its parent company, AG Real Estate and AG Insurance, the leading insurance group in Belgium, to continue to diversify its asset portfolio while being able to seize opportunities that arise on the market. We will continue to invest in new projects in the development phase which ensure high returns on investment in the medium and long term.” The seller AG Real Estate was advised by CBRE under an exclusive mandate, and the firms Panhard & Associés and Kramer Levin. AEW was assisted by the firms Flusin and Ashurst.
About AG Real Estate
AG Real Estate, a wholly-owned subsidiary of AG Insurance, is an integrated property operator active in Belgium, France, Luxembourg and on certain select European markets with expertise in different lines of business: Asset & Property Management, Development & Construction Management, PPP and real estate financing, as well as in Car Park Management through its subsidiary Interparking.
A company active in urban real estate, AG Real Estate has more than 250 employees with varied profiles and areas of expertise.
With a portfolio of more than €6.5 billion under management for its own account and on behalf of third parties, AG Real Estate is endeavoring to provide a responsible response to new urban needs and to implement a sustainable development policy so as to make its projects even more meaningful.
AG Real Estate France is the French subsidiary of AG Real Estate, an acknowledged leader in the Belgian property market. On the French market, AG Real Estate France focuses on its core business of property development and investment in corporate real estate.
Key figures
At the end of 2018, AG Real Estate France had developed nearly 200,000 m² for the service sector and 300,000 m² for logistics, worth some €1.4 billion, including the portfolio of pure investments made over the same period. In the spring of 2019, the portfolio of projects it controls has a potential of around 400,000 m². The new portfolio is highly diversified between offices, retail, logistics, business hotels and car parks.
