BCLP advises Virtuo Industrial Property in joint venture with TPG Real Estate for €200 million logistics portfolio

BCLP advised Virtuo Industrial Property on its joint venture with TPG Real Estate, through its platform Intervest, for the speculative launch of a €200 million logistics development portfolio in France.

Independent, mission-driven logistics real estate company Virtuo Industrial Property is accelerating its efforts to develop low-carbon logistics platforms in the French market by forming a joint venture with Intervest. Intervest was recently acquired by TPG Real Estate, a leading institutional investment firm in the logistics sector. This transaction includes the launch of a logistics development portfolio worth approximately €200 million, targeting key supply constrained markets across France.

Through this joint venture, the project partners aim to deliver next-generation, low-carbon logistics buildings. Two ongoing developments already included in the portfolio are V.Park 1 in Chavagnes-en-Paillers (Vendée) and the Montchanin site (Saône-et-Loire). Four additional projects will soon follow: V.Park 2 and 3 in Chavagnes-en-Paillers (Vendée), the Essarts site (Vendée) and V.Park Montereau (Seine-et-Marne).

These projects will be financed with approximately €115 million in support from Cheyne Capital, a global alternative investment manager, while asset management for the portfolio will be handled by Alteo Investment Management.

The BCLP team advising Virtuo Industrial Property included Partner Jean-Louis Martin and Counsel Edouard Alcouffe on real estate and corporate matters, and Partner Olivier Mesmin and Senior Associate Yecine Nour on tax matters.