VIRTUO INDUSTRIAL PROPERTY and CBRE INVESTMENT MANAGEMENT sell OLYMPE portfolio to AXA IM ALTS.
Grégory BLOUIN, Chairman of VIRTUO INDUTRIAL PROPERTY, and Thibault NICOLLE-MALPAS, Senior Transaction Manager at CBRE INVESTMENT MANAGEMENT, have announced the sale of the Olympe Portfolio, comprising 190,000 m² of state-of-the-art, sustainable logistics assets, to AXA IM Alts.
VIRTUO INDUSTRIAL PROPERTY, an independent mission-driven company specializing in responsible and innovative logistics real estate, announces the sale of the Olympe Portfolio to AXA IM Alts, one of the world leaders in alternative investments.
In partnership with CBRE INVESTMENT MANAGEMENT as part of a joint venture created at the end of 2018, the Olympe Portfolio comprises a group of six class-A logistics platforms strategically located in the main logistics hubs of Lille, Lyon and Provence-Alpes-Côte d’Azur in France.
Virtuo Industrial Property’s commitment to more responsible real estate projects is reflected in the very high ESG scores of its sites, which are all BREEAM-certified, have state-of-the-art LED lighting and are equipped with self-consuming solar panels for most buildings.
In total, the portfolio of around 190,000 m² comprises 5 existing assets ranging from 20,000 m² to 43,000 m²: V.PARK BULLY 2 and Courcelles-Lès-Lens (62) located in the Hauts-de-France region, FOS 1 and 2 (13) located a few kilometers from Marseille and Miribel (01) near the Lyon conurbation. These assets have seen their value increase significantly through leases with quality tenants, and are currently fully occupied. Delivery of the sixth asset, covering some 37,000 m², took place in the 4th quarter of 2023.
Virtuo Industrial Property and CBRE Investment Management were advised in this transaction by CBRE’s Industrial Investment & Logistics teams.
Grégory BLOUIN, Chairman of Virtuo Industrial Property “Given the economic downturn, the sale of the Olympe Portfolio confirms the Group’s strategy over the past 5 years. The assets developed by Virtuo Industrial Property feature exceptional quality and high environmental standards. The team’s proactive management led to an attractive valuation, underlining the portfolio’s robustness and performance“.
Thibault NICOLLE-MALPAS, Senior Transaction Manager at CBRE Investment Management
“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.” Following this first development and asset management operation carried out by Virtuo Industrial Property, Grégory Blouin decided to institutionalize the asset management mission.
This is how the partnership with Arnaud Le Mintier began in 2021, with the creation of Virtuo Asset Management.
Dedicated to fund-raising and asset management for third parties in the logistics sector, Virtuo Asset Management is a real estate investment and management company drawing on the expertise of Virtuo Industrial Property (development and construction of logistics buildings) and Noveo Consulting (ICPE management and building audits).
Arnaud Le Mintier, Managing Director of Virtuo Asset Management, boasts more than 20 years’ experience in real estate asset management, is now supported by a dedicated team of five employees dedicated to the following missions:
- Development of investment strategies
- Finding investors
- Structuring and arranging bank financing
- Site acquisition and management