{"id":1004452189,"date":"2020-05-27T04:39:45","date_gmt":"2020-05-27T12:39:45","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004452189"},"modified":"2020-05-27T04:39:45","modified_gmt":"2020-05-27T12:39:45","slug":"kkr-buys-stake-in-french-logistics-firm","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/kkr-buys-stake-in-french-logistics-firm\/","title":{"rendered":"KKR Buys Stake in French Logistics Firm"},"content":{"rendered":"<div id=\"attachment_1004452195\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/05\/logistics-3.jpg\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004452195\" data-attachment-id=\"1004452195\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/kkr-buys-stake-in-french-logistics-firm\/logistics-3\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/05\/logistics-3.jpg\" data-orig-size=\"800,620\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;1&quot;}\" data-image-title=\"logistics 3\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;Image via Pixabay.com&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/05\/logistics-3.jpg?w=800\" class=\"wp-image-1004452195 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/05\/logistics-3.jpg\" alt=\"\" width=\"300\" height=\"233\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/05\/logistics-3.jpg 800w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/05\/logistics-3.jpg?resize=300,233 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/05\/logistics-3.jpg?resize=768,595 768w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004452195\" class=\"wp-caption-text\"><em>Image via Pixabay.com<\/em><\/p><\/div>\n<p>KKR continues to increase its presence <a href=\"https:\/\/www.commercialsearch.com\/news\/kkr-acquires-stake-in-european-logistics-company\/\">in the European industrial market<\/a> with the acquisition of an interest in Etche France, a Paris-based private real estate company with a portfolio featuring a gross asset value of \u20ac400 million, or approximately $438.2 million. KKR purchased the controlling stake from Groupe BMF and co-founders.<\/p>\n<hr>\n<p><strong>READ ALSO<\/strong>: <a href=\"https:\/\/www.commercialsearch.com\/news\/an-industrial-developers-insights-on-the-pandemics-impact\/\">An Industrial Developer\u2019s Insights on the Pandemic\u2019s Impact<\/a><\/p>\n<hr>\n<p>Established in 2010, Etche focuses on opportunistic and complex investments offering a high level of value-add potential. Currently, the company owns and operates a collection of more than 120 logistics, light industrial and office assets across France. Etche&#8217;s activities over the last few years include the acquisition of three logistics assets encompassing an aggregate 936,500 square feet in Mer, Leers and Thouars in 2018.<\/p>\n<p>KKR and Etche have a pre-existing relationship, as the two companies have partnered on various I&amp;L investments in France over the last six years. KKR&#8217;s purchase of the majority interest, facilitated through a European fund managed by the New York-based global investment firm, comes on the heels of the February 2020 death of Jean-Pierre Raynal, who co-founded Etche with L\u00e9on Baruc.<\/p>\n<h2><strong>France beckons <\/strong><\/h2>\n<p>The investment in Etche dovetails with KKR&#8217;s pursuit of high-quality I&amp;L properties that are positioned to capitalize on strong market dynamics. <em>&#8220;France offers investors a number of incentives, including some of the lowest rents, as well as yields that remain attractive compared with other European markets,&#8221;<\/em> according to a first quarter 2020 report by CBRE. And France&#8217;s industrial market remains poised for success in the post-coronavirus environment. As noted in the report, <em>&#8220;The COVID-19 crisis has highlighted the major role played by logistics in the national economy. This should constitute a new growth accelerator for this asset category.&#8221;<\/em><\/p>\n<p>However, it is not just France that is holding KKR&#8217;s attention; the firm has been carefully but steadily expanding its I&amp;L footprint in Europe over the last two years. Since 2018, KKR has acquired roughly 8.6 million square feet of I&amp;L space in the Netherlands, Italy, Spain, Ireland and France. Most recently, the company purchased a strategic stake in London-based Mirastar, a specialist developer, investor and manager of logistics real estate spanning Western Europe.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The global investor continues to expand its European industrial holdings with the purchase of a majority interest in Etche France, which controls a 120-property portfolio valued at $438 million. <\/p>\n","protected":false},"author":969,"featured_media":1004452195,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,21748,16,21742],"tags":[32789,32914,32883],"class_list":["post-1004452189","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-industrial","category-international","category-latest","tag-cbre","tag-e-commerce","tag-kkr"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - 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