EDF Invest, the investment arm of the EDF Group and Generali Real Estate S.p.A. announce the signature of a co-investment agreement whereby EDF Invest acquires from Generali France 50% of the vehicle OPPCI Parcolog Invest. The other 50% of the vehicle continues to be owned by the Generali Group mainly through the Generali Real Estate Logistic Fund (GRELF) managed by Generali Real Estate SGR S.p.A
- EDF Invest acquires from Generali France 50% of the existing investment vehicle OPPCI Parcolog Invest, which owns € 400 mln of high-quality logistics assets in France
- The Generali Group continues to own 50% of OPPCI Parcolog Invest
- Generali – through the pan-European logistics strategy (GRELF fund) – and EDF Invest aim to continue developing the portfolio with new logistics projects
OPPCI Parcolog Invest owns nine high-quality logistics assets in France worth around €400 mln, including a park comprising two assets in Moussy le Neuf, near Roissy, and two XXL platforms in Hénin Beaumont (Lille) and in Plaine de l’Ain (Lyon). The portfolio includes assets in Marseille Clésud, Avignon, Bourg en Bresse, Le Mans and in the Lille region. The co-investors plan to grow the portfolio over the next years through new acquisitions and developments in logistics. For Generali, OPPCI Parcolog Invest will be the main vehicle for logistics investing in France, while continuing to expand in continental Europe logistics with the Generali Real Estate Logistics Fund (GRELF), managed by Generali Real Estate SGR S.p.A. and reserved for professional investors, which is also a shareholder in OPPCI Parcolog Invest. Thanks to the investment of the pan-European GRELF fund and to the co-investment of EDF Invest, this operation substantially contributes to the disciplined growth of the logistics portfolio managed by Generali Real Estate, by partnering with third-party capital.
You can now read the full press release at the link below
