De Pardieu has advised PGIM Real Estate and Alderan on the sale of a refrigerated logistics warehouse located in Montsoult (Val d’Oise), north of Paris.
M&G Real Estate has acquired, on behalf of the M&G European Property Fund, an 18,187 sq.m refrigerated warehouse located in Montsoult (Val-d’Oise) for €38.5 M.
The warehouse is currently undergoing a refurbishment program under a property development agreement entered into with Axess Grand Projets.
Upon completion of the works, the warehouse will be operated by ITM Logistique Alimentaire International, subsidiary of the Intermarché group, under a ten-year firm-term lease “on plan” (BEFA).
In connection with the transaction, De Pardieu has also advised the seller on the negotiation and execution of the lease “on plan” (BEFA) and the property development agreement (CPI).