Edf Invest and Generali Real Estate co-invest in logistics

Edf Invest - the investment division of Edf Group - and Generali Real Estate Spa announce the signing of a co-investment agreement whereby Edf Invest acquires 50% of the investment vehicle Oppci Parcolog Invest from Generali France. 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 Spa.

Oppci Parcolog Invest owns nine high-quality logistics assets in France worth approximately EUR 400 million, including two assets in Moussy le Neuf, near Roissy, and two XXL platforms in Hénin Beaumont (Lille) and Plaine de l'Ain (Lyon). The portfolio includes assets in Marseille Clésud, Avignon, Bourg en Bresse, Le Mans and the Lille region.

The co-investors aim to grow the portfolio in the coming years through new acquisitions and development projects in logistics. For Generali, Oppci Parcolog Invest will be the main vehicle for logistics investments in France, continuing the expansion in logistics in continental Europe through the Generali Real Estate Logistics Fund (Grelf), managed by Generali Real Estate Sgr Spa and reserved for professional investors, which is also a shareholder of Oppci Parcolog Invest. Thanks to the investment of the pan-European fund Grelf and the co-investment of Edf Invest, this transaction makes a substantial contribution to the disciplined growth of the logistics portfolio managed by Generali Real Estate, and to sharing it with third-party capital.
Oppci Parcolog Invest has obtained financing from a leading pool of lending banks: Cacib, Bnpp and Société Générale. The asset management of the portfolio will be provided by Generali Real Estate Spa and the property management by Parcolog Gestion / Primelog.

"We are proud to be able to continue our partnership with Edf Invest, started two years ago in the office sector," said Sébastien Pezet, head of Western Europe at Generali Real Estate Spa, "and now extended to logistics, a strategic asset class for Generali Real Estate. The trust of our partners honours us and encourages us to find investment solutions that match their objectives in this competitive sector".

"This acquisition from Generali of a stake in a high-quality logistics portfolio with prospects for future developments," added Clémence Caniaux, head of Real Estate at Edf Invest, "strengthens our portfolio's exposure to the logistics sector, in line with our strategy. We are pleased to be able to continue our partnership with Generali through this transaction with a long-term perspective".