BlenCap completes €17.5m Paris Last Mile Logistics acquisition

On behalf of a London based high net worth investor Blencathra Capital has completed the acquisition of a 40,000 sq m Last Mile Logistics asset in St Witz, Isle de France, Paris.

The asset is strategically located close to Charles de Gaulle airport and is multi leased to four tenants at highly reversionary rents. The freehold asset was acquired at a price deeply discounted versus reinstatement cost and current and peak values at a gross yield of 8.83%.

Blencathra Capital structured and financed the acquisition with debt from Starwood Capital.