Gide has advised InfraRed Capital Partners Limited and Braxton on the disposal to Blackstone of a portfolio of 16 urban logistics warehouses in the Paris area, covering a total of 65,000 m2, for approx. EUR 75 M.
The portfolio's assets, leased by 25 different companies, are all located in leading logistics and industrial hubs in close suburbs of Paris, with an average 20-minute itinerary into Paris. During ownership, the partnership rolled out a value-creation strategy through initiatives aiming to increase the rental value and quality of the portfolio, such as the refurbishment of certain buildings, the renewal of leases and the reduction in vacancy rate. Several assets have also been added to the portfolio through a series of off-market acquisitions in order to reach a critical mass.
Partner Nicolas Planchot, working with counsel Cléopha Thomann and associate Clément Pech de Laclause, advised InfraRed Capital Partners Limited and Braxton on all M&A/Corporate and real estate aspects of this transaction.
InfraRed Capital Partners Limited and Braxton were also advised by partner Fabrice Rymarz and associate Quentin Cournot of law firm Racine on tax matters, and by Catherine Trejaut and Thomas Raballand from notarial office Le Breton Notaires.
Blackstone was advised by DLA on M&A/Corporate and real estate matters with partner Myriam Mejdoubi and associate Emilie Rees, by Darrois on tax aspects, and by notarial office Attal & Associés.