Paris, 9 November 2023 - Racine has advised ARA Europe on the acquisition of three logistics platforms with a total surface area of 35,000 square metres. This major transaction will enable ARA Europe to strengthen the development of its business in France.
ARA Europe is an investment company listed on the London Stock Exchange specialising in property asset management. Since its creation in 1996, ARA Europe has built up a diversified portfolio of office, residential and logistics properties with a total value of over €14 billion. A player with strong international ambitions, ARA Europe owns 800,000 square metres in the UK, Germany, Spain, Ireland and France. In France, ARA Europe owns 12 assets totalling over 250,000 square metres.
The deal includes three logistics warehouses in Yvelines (Epône) and Vaucluse (Avignon, Cavaillon) with a total surface area of 35,000 square metres. Acquired through the discretionary, value-added ARA Europe Active Real Estate Fund V, they allow the company to consolidate its presence in France with assets benefiting from positive structural trends such as the e-commerce boom, the lack of new construction and rising rental values. With this acquisition, ARA Europe Active Real Estate Fund V's total committed gross assets in the industrial and logistics sector in the UK, France and Ireland will increase to €150 million. ARA Europe intends to undertake a number of refurbishments and extensions to enhance the value of the property.
Racine has advised ARA Europe on several similar transactions, most recently the acquisition of a logistics portfolio of five assets totalling 40,000 sqm on behalf of the Active Real Estate IV fund. This acquisition was already part of the strengthening of ARA Europe's continental presence.
Racine assisted ARA Europe on all tax aspects of the transaction with a team comprising Fabrice Rymarz (Partner), Quentin Cournot (Counsel) and Romain Taugourdeau (Associate).