OTPP and Boreal IM JV buys five logistics assets portfolio in France

The assets are in Lyon, Nantes, and Lille.

  • The transaction is the JV’s second investment in France
  • OTPP, one of Canada’s largest pension systems, is a global investor
  • Boreal is a pan-European investment management firm

Ontario Teachers’ Pension Plan (OTPP) and Boreal IM joint venture (JV) has acquired a 165,000sqm portfolio of five logistics assets in France.

The assets, located in Lyon, Nantes, and Lille, are a 50,000sqm asset north of Lyon, a 35,000sqm facility located south of Lyon, a 19,000sqm, part temperature-controlled asset located in northwest France, a 42,000sqm asset is leased to a global contract logistics provider to serve central and western France and an 18,000sqm facility located in Lille.

The transaction is the JV’s second investment in France, after the acquisition of a standing asset and development plot in Paris in 2023.

“This portfolio is a strategic acquisition for the JV, significantly growing our AUM in France and further diversifying our geographic presence,” said Jenny Hammarlund, senior MD, Real Estate at OTPP. “We now have the opportunity to work with a strong roster of tenants to implement ESG initiatives as we continue to build our best-in-class portfolio and create value through active asset management.”

OTPP, one of Canada’s largest pension systems, is a global investor.

Boreal is a pan-European investment management firm headquartered in London.

No financial details of the transaction were disclosed.

Boreal and Ontario Teachers’ Pension Plan were advised by Clifford Chance, NOTER, CBRE, Etyo and PwC.