Olympe Portfolio
In 2018, CBRE IM and Virtuo IP signed a shareholding partnership to develop a portfolio of speculative logistic buildings. This co-investment project was part of the CBRE IM group’s “value-add” strategy, and asset management was entrusted to the Virtuo group.
2019 – 2023: The partnership includes 6 logistics platforms along the “backbone”.
Each platform aims excellence, incorporating cutting-edge ESG strategies:
- 50% of the portfolio fitted with solar panels
- BREEAM Construction Very Good certification
Virtuo’s asset management mission involved:
- defining a project marketing strategy and ensuring success with our broker partners
- monitoring project progress as project managers
- ensuring legal and financial management of investment vehicles
- preparing the sale and securing a successful outcome
End 2023: the portfolio is sold 6 years after the start of the shareholder partnership, in a difficult macro-economic context, for a total of €300m.
In accordance with the strategy of our value-add fund European Value Partners II, this partnership was initiated in 2018 to develop speculative logistics assets with ambitious technical and environmental requirements in strategic locations. Once Virtuo Industrial Property completed the construction, leasing and delivery of the assets, we are delighted to have concluded this sale in line with our initial strategy.
Thibault NICOLLE-MALPAS, Senior Transaction Manager chez CBRE Investment Management
