- What KKR puts its €350m Matrix portfolio in the market
- Why The portfolio comprises around 15 properties of courier logistics across France
- What next An exclusive bidder will be selected in April
KKR is commercialising a portfolio of French logistics via BNP Paribas and CBRE, React News can reveal.
The portfolio, dubbed Matrix, comprises around 15 assets of courier logistics, and is expected to fetch around €350m.
The portfolio is undergoing its second bidding round, with an exclusive buyer set to be selected in April.
Pushed by the rise of e-commerce during the past two years, logistics have been steadily gaining traction in the French market. For the first time ever, in 2021 the logistics sector represented 25% of the global annual volume invested across all asset classes, With a record €6.7bn volume in investment.
Tenancy fees are remarkably low across all the French territories, excluding urban logistics. According to BNP Paribas data, prime logistics are now valued at €60/sq m in the Paris region, closely followed by €55/sq m in Lyon.
The ever-growing demand for logistics has caused the emergence of the Arc Atlantique, a new hub of activity in logistics along France’s western coast, along with the further development of its traditional axis of activity in logistics, the Axe Dorsal.
Everyone wants a piece of the cake in French logistics. According to a report by BNP Paribas, North American investors account for 51% of the French logistics investments made in 2021, followed by Asian investors with 17%, French investors with 12%, German investors with 10%, and UK investors with 9%.
