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€85m sale & leaseback deals build Tristan/Catella platform

Tristan Capital Partners’ EPISO 5 property fund, along with Catella Asset Management, has acquired a portfolio of 27 logistics sites, including four on-going developments in France for around €85 million.

The acquisition was carried out in two sale-and-leaseback transactions with French transport company Group Jacky Perrenot and a “top-10 global provider of transportation and logistics services”, the investors said in a statement.

The latest deals follow Catella and EPISO 5’s July 2020 sale-and-leaseback of 50 logistics sites across France with Group Jacky Perrenot. It takes the total value of transactions this year to about €265 million.

“These transactions strengthen our relationship with our partner Jacky Perrenot while adding diversification to our tenant base with a leading 3PL provider. We plan to welcome more logistics and transportation partners in 2021 as we continue to grow the platform,” said Tristan managin director Thibault Ancely.

The overall portfolio comprises 105,000 sq m of assets, expanding the dedicated French logistics and light industrial portfolio within EPISO 5. Tristan Capital Partners continues to actively pursue further acquisitions on behalf of EPISO 5 across France, targeting the creation of a €500m joint platform with Catella Asset Management.

Catella Asset Management CEO François Brisset said: “We are more than halfway towards our target €500m size for our joint platform and we look forward to closing similar transactions as soon as Q1 next year.”