Cheyne Capital enters the logistics sector in France

Cheyne Capital has made its debut in the French logistics sector by agreeing to finance ARA Europe’s acquisition of a state-of-the-art XXL logistics platform in France with a €57 million loan.

The 117,000 sq m logistics platform is located in the Haut-de-France region, close to the Ile de France and the port areas of Le Havre and Calais. It is located next to the A16 motorway in a strategic position at the gateway to Europe, the company said.

Raphael Smadja, head of French real estate, Cheyne Capital

The platform is currently under construction and is scheduled for completion towards the end of this year. It is being built with modern techniques and expects to receive BREEAM Very Good certification.

The logistics platform will consist of 10 storage units for standard products and two Seveso storage units – for storing hazardous goods – all of which will be equipped with loading rooms, offices and social aeas to allow a high degree of flexibility for future tenants.

Cheyne Capital, a London-based alternative investment manager with over £3 billion of assets under management, has has lent over €1 billion in France through 20 transactions in the last four years.

“In recent years we have been very active in French real estate lending, financing a wide range of projects spanning hotels, offices and residential developments,” said Raphael Smadja, head of French real estate, Cheyne Capital. “We are pleased to have now entered the French logistics market and we believe that this transaction marked the ideal opportunity to do so.”

Smadja said the group intends to continue expanding its presence in France and looks forward to working with ARA on this logistics project.

In December 2021, ARA Europe completed the acquisition of the European real estate investment management business of InfraRed Capital Partners.  The transaction expanded ARA Europe’s existing UK-based real estate platform, ARA Dunedin, into a broad-based asset manager with over £12 billion in transactional value across all real estate sector in the UK and Continental Europe.

Parent company ARA is the largest real assets manager in the Asia Pacific region, with approximately US$95 billion in gross assets under management.