17 Dec 2020

Tristan Fund acquires 27-site French Logistics Portfolio in Two sale-and-leaseback transactions for c. €85m

Source: Tristan Capital Partners Press Release

17 December 2020, London: EPISO 5, the real estate fund advised by Tristan Capital Partners, and Catella Asset Management has acquired a portfolio of 27 logistics sites, including four on-going developments across France for c.€85m. The acquisition was carried out in two sale-and-leaseback transactions with leading French transport company Group Jacky Perrenot and a top ten global provider of transportation and logistics services.  

This latest transaction follows the initial sale-and-leaseback of a portfolio of 50 logistics sites across France by EPISO 5 and Catella Asset Management from Group Jacky Perrenot in July 2020, taking the total value of transactions this year to c. €265 million.

Thibault Ancely, Managing Director at Tristan Capital Partners, said: “These transactions strengthen our relationship with our partner Jacky Perrenot while adding diversification to our tenant base with a leading 3PL provider. We plan to welcome more logistics and transportation partners in 2021 as we continue to grow the platform.”

The overall portfolio is comprised of 105,000 sqm of assets, expanding the dedicated French logistics and light industrial portfolio within EPISO 5. Tristan Capital Partners continues to actively pursue further acquisitions on behalf of EPISO 5 across France, targeting the creation of a €500m platform.

François Brisset, CEO at Catella Asset Management, said: “Less than a year post-inception, we are more than halfway towards our target €500m size for our joint platform and we look forward to closing similar transactions as soon as Q1 next year.”

EPISO 5 was advised by R&D Notaires and Racine, and on commercial matters by Nexity Conseil et Transaction and CBRE.

Group Jacky Perrenot was advised by Rothschild & Co and Régnier Notaires, and for the other sale-and-leaseback the vendor was advised by Nexity Conseil et Transaction, DLA Piper, and ONPC Notaires.