Ontario Teachers' Pension Plan and Boreal IM Acquire Four Assets Totalling 195,000 sqm in France and Germany

The Ontario Teachers' Pension Plan (“Ontario Teachers’”) and Boreal IM joint venture (“JV”) has announced the acquisition of a 149,000 sqm portfolio of three, fully let logistics assets in Paris, France, and a 46,000 sqm warehouse in the Ruhr region of Germany.

The French acquisition marks the JV’s third significant investment in the country in the last 2 years. The portfolio in France now stands at 388,000 sqm. The newly acquired portfolio comprises:

-Bussy Saint Georges: An 84,000 sqm asset on the A4 motorway, 30km east of Paris, fully let to a major retailer as its main logistics and e-commerce distribution centre.

-Lagny-le-Sec: Spanning 42,000 sqm, this facility is located north of Paris on the N2 motorway, 18km from the CDG Airport, and serves as the main logistics centre for a listed industrial manufacturer which has its factory nearby.

-Canly: A 23,000 sqm logistics centre located on the A1 between Paris and Lille and fully let to a listed information management tenant who uses the asset to fulfil contracts for clients located in the Paris region.

In Germany, the JV has acquired a 46,000 sqm warehouse located 20 kilometers south of Dortmund, with excellent connectivity to Cologne, Düsseldorf and the wider Ruhr region, bringing the total size of the German portfolio to 165,000 sqm. It has a flexible layout with the possibility of accommodating one to five tenants and features 97% warehousing space, 39 loading doors, and LED lighting throughout.

The asset is let to a leading third-party logistics provider (3PL) and offers stable rental income. The Ruhr is one of the top ten global economic clusters and availability of modern warehousing in the region is very limited.

Jenny Hammarlund, Senior Managing Director, Real Estate at Ontario Teachers’ Pension Plan, said: "The acquisitions further our strategy to build a portfolio in the strongest markets across Europe. These assets are in prime locations and benefit from attractive, long-term supply and demand dynamics. They also offer opportunities to create additional value through active management, strengthening our ability to deliver portfolio diversification and sustainable returns. "

Nikos Koulouras, Partner at Boreal IM, said: “This transaction highlights our capabilities in finding opportunities for value creation through focused, high-impact capex and significant embedded reversionary potential. The Paris market is key for our JV and we are confident that our French portfolio is well-positioned to drive outperformance.”

James Farmer, Partner at Boreal IM, commented: "We continue to have strong conviction about the supply-demand dynamics and outlook of the German logistics market. This asset’s prime location, high-quality institutional specifications, and significant rental upside potential align perfectly with our investment strategy."