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, announce the sale of the Olympe Portfolio, a 190,000 m² portfolio featuring state-of-the-art, sustainable logistics assets to AXA IM Alts.
VIRTUO INDUSTRIAL PROPERTY, independent company specializing in responsible and innovative logistics real estate, announces the sale of the Olympe Portfolio to AXA IM Alts, world leader in alternative investments.
In partnership with CBRE INVESTMENT MANAGEMENT as part of a joint venture created at the end of 2018, the Olympe Portfolio brings together a group of six Class A logistics platforms strategically located in the main logistics hubs of Lille, Lyon and Provence-Alpes-Côte d’Azur, France.
Virtuo Industrial Property’s commitment to more responsible real estate projects is reflected in the very high ESG scores of its sites, all of which are BREEAM-certified, with state-of-the-art LED lighting, and most of which are equipped with self-consuming solar panels.
In total, the portfolio of around 190,000 m² comprises 5 existing assets ranging in size 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 Lyon. These assets have seen their value increase significantly thanks to the conclusion of leases with quality tenants, and are now 100% occupied. Delivery of the sixth asset, covering some 37,000 m², took place in Q4 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 has completed the construction, leasing and delivery of the assets, we are delighted to have been able to conclude this sale in line with the strategy initially defined.”
Olympe portfolio: the starting point for the creation of Virtuo Asset Management
After this first operation, Grégory Blouin decided to make asset management an integral part of his company’s development and asset management activities.
The partnership with Arnaud Le Mintier began in 2021 with the creation of Virtuo Asset Management.
Virtuo Asset Management is a real estate investment and management company dedicated to raising funds and managing assets for third parties in the logistics sector. The company leverages 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, 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
