Hines buys 350,000 m² of Auchan logistics platforms

Par thierno - 24 July, 2021 - 09:51

Hines has acquired 11 logistics sites from Auchan Retail Logistique in France in a bid to diversify into logistics real estate.

The real estate investment company Hines has purchased 11 French logistics platforms from Auchan Retail Logistique on behalf of the Luxembourg fund HEVF 2. However, the retailer will remain on the sites as a tenant for its logistics activities.

Representing a total surface area of 350,000 sq.m., the buildings acquired are located in the Paris region and near major regional cities: Lyon, Bordeaux, Clermont-Ferrand, Nîmes, Strasbourg, Tours, Lille and Amiens.

"The portfolio acquired has a dual profile: one part is secure, guaranteeing long-term income, while the other part, made up of assets positioned on recognized routes, offers strong and rapid potential for value enhancement," explains Xavier Musseau, President of Hines France.

Confidence in the French logistics real estate market

Hines, which had acquired residential assets in France at the beginning of the year, has invested in logistics real estate, believing that this market has growth potential. "The acquisition from Auchan Retail Logistique of one of the major portfolios of French logistics real estate is a remarkable entry for Hines in this sector.

We are delighted to begin our activities in this asset class by establishing a solid partnership with one of the leaders in the retail sector," adds Xavier Musseau.

For the real estate investment company, the fundamentals are good in France, and the rise of e-commerce and the lack of buildings adapted to new regulations should encourage growth in this sector:

"We intend to continue on this path by adding to our logistics portfolio of existing buildings or projects to be developed," concludes Xavier Musseau.