QuadReal Expands its European and US Logistics Portfolio

Valor and QuadReal recently committed to deliver a 10,000 sqm cross-dock logistics hub in South Paris: 

Valor Real Estate Partners (“Valor”), Europe’s leading last-mile logistics specialist, has acquired, on behalf of its joint venture with QuadReal Property Group (“QuadReal”), a global real estate investment, development and operating company, a 10-acre site, which includes a 6,500 sqm vacant cross-dock property, in Fleury-Mérogis, south of Paris.

In line with the JV’s value-add strategy, Valor will undertake a comprehensive ESG-led refurbishment of the existing space and add a 3,500 sqm extension, delivering a state-of-the art, cross-dock logistics hub. Totalling 10,000 sqm, the property will be ideally suited for 3PL, parcel delivery, and distribution occupiers in what is Europe’s dominant e-commerce centre.

Specifications will include a 1/109 sqm door ratio, 9-metre clear heights, vehicle yards ranging from 33 to 53 metres, and extensive car and HGV parking. Other enhancements will include the installation of LED lighting, new external cladding, a redesigned and expanded service yard, and the full refurbishment of the office accommodation.

The lack of new cross-dock supply in Paris has kept vacancy rates close to 1% over the last few years. Fleury-Mérogis is a prime infill logistics location for the city, as it benefits from excellent connectivity, including direct access to the A6 corridor, and close proximity to key distribution nodes including Orly Airport and the Rungis International Food Market.

Following the successful speculative development of Valor Park Marly, a 10,000 sqm cross-dock hub that was let ahead of practical completion in 2023, this transaction further underlines Valor’s position as a leading cross-dock specialist in France, where it currently owns and manages c. 70,000 sqm of cross-dock space.

Victor Massias, Partner Head of Developments at Valor, said: “This transaction builds on our proven track record in the Paris cross-dock market and reflects the JV’s conviction in highly supply-constrained, infill logistics locations where this type of product is scarce. Fleury-Mérogis benefits from exceptional fundamentals and through a comprehensive refurbishment and extension programme, we will deliver a future-proof, ESG-compliant asset aligned with the evolving requirements of last-mile and parcel delivery occupiers.”

Thomas Blangy, Senior Vice President at QuadReal, said: “This transaction further strengthens our already compelling portfolio in the Greater Paris region, one of France and Europe’s most important logistics markets. With this asset’s excellent connectivity and the clear scope for value-add improvements both in terms of its sustainability credentials and from an operational perspective, this transaction is firmly in line with our global investment strategy of targeting top quality assets in high growth urban logistics hubs across Europe and the UK.”

Valor was advised by Oudot (notary), Simmons & Simmons (Real Estate/Tax/Structuring), Les Ateliers4+/CEMR (technical/refurbishment), and CBRE (broker).

Also worth noting at the beginning of the year, Valor and QuadReal expanded their Berlin footprint with the acquisition of modern ultra-urban logistics asset from Aurelis Real Estate:

Valor Real Estate Partners (“Valor”), Europe’s fastest-growing last mile specialist, has acquired an urban logistics asset from Aurelis Real Estate in Berlin on behalf of its joint venture with QuadReal Property Group (“QuadReal”), a global real estate investment, development and operating company. The transaction further expands the joint venture’s footprint in one of Europe’s most dynamic ecommerce centres.

The asset is a 6,000 sqm ultra-urban logistics property in Berlin’s Charlottenburg-North submarket. The modern cross-dock facility offers extensive yard space is occupied by GO! Express & Logistics on a long-term lease. It is strategically located in proximity to two of Berlin’s major consumer centres – CBD West and the city centre – whilst also providing excellent outbound access via the A111 and A100.

The transaction follows a  €91 million commitment from the JV in December 2025 to acquire a 26,000 sqm urban logistics asset and adjacent development site in Berlin’s North-East Berlin submarket of Lichtenberg.

Vincent Lampe, Senior Vice President, Valor commented: “This is a rare opportunity to acquire a modern ultra-urban logistics asset in one of Berlin’s most competitive and under-supplied sub-markets. This acquisition delivers secure long-term income and further expands our footprint in one of our high conviction markets where the development of ecommerce, sustained population growth and  limited land for development will all support future demand for modern, well-located logistics space.”

Thomas Blangy, Senior Vice President at QuadReal, added: “This transaction builds on the JV’s recent momentum and, following our €91 million deal in December, further strengthens our portfolio in what is Germany’s dominant e-commerce centre. With the property’s proximity to two of Berlin’s major consumer centres and its excellent transport links, this transaction is firmly in line with our global investment strategy of targeting high growth urban logistics hubs in key markets across Europe and the UK.”

Valor was advised by Schilling, Zutt & Anschuetz (Legal), Rider Levett Bucknall (Technical). Colliers acted as sell-side broker. 

Not much I can add here except to say that QuadReal has teamed up with Valor, Europe’s fastest-growing last mile specialist,to acquire some great logistics properties in Paris and Berlin.

As Thomas Blangy, SVP at QuadReal states, these transactions are transaction is firmly in line with QuadReal's global investment strategy of targeting top quality assets in high growth urban logistics hubs across Europe and the UK.

In fact, QuadReal’s UK lending platform just completed two transactions totalling £86.4m:

QuadReal Property Group (QuadReal), a global real estate investment, development and operating company, has completed £86.4m of loans across two transactions via its newly expanded lending platform, taking its total direct lending in the UK to over £110m.

The first transaction was a £56.5m loan to Heitman to refinance an eight asset, 492,260 sq ft self-storage portfolio located across Birmingham, Sheffield, and Stafford, and managed by Space Station, the oldest self-storage operator in the UK. Six of the assets are operational and currently in a lease up phase, while one completed in July 2025 and the other is estimated to complete in March of this year. All the schemes are institutional grade, purpose-built, or high-end conversions, and were specifically selected based on the strong local catchment, accessibility, and visibility. Importantly, there are no new self-storage facilities under construction in any of the three cities.

The second transaction is a £29.9m loan to Fiera Real Estate and Wrenbridge to fund the development of a 219,749 sq ft logistics facility in Reading. Construction on the scheme, which will offer six suites across five buildings, commenced in December 2025 and is due to complete in December 2026. The facility is located to the south of the city, adjacent to the M4 motorway and within a 90-minute drive of 18.9 million people, as well as Heathrow and key port cities such as Bristol, Southampton, and Bournemouth.

The transactions take the total direct lending by the platform, which was launched in the UK in October 2025, to over £110m, after it provided a £25.5m facility to Fiera Real Estate and Harleyford Capital to fund the development of 180,000 sq ft of institutional Grade A logistics space at Watford Works, London in October.

QuadReal intends to commit over £2.5bn over the next three to five years across the UK and Europe, and has direct control over all decision making. The expanded platform follows the success of QuadReal’s North American debt business, which currently manages over £[12]bn in investments.

Derek Richter, Vice President, Real Estate Debt, said: “These transactions represent an important milestone in the growth of our lending platform, and demonstrate our confidence in the UK market. While we are committed to growing our platform, we remain disciplined, and will only progress transactions that are aligned with our global investment strategy and core convictions. With strong sponsors and attractive sector fundamentals, these high quality, well-located sites are firmly in line with that strategy and we look forward to working with Heitman, Fiera, and Wrenbridge as they execute their business plans.” 

And it's not just in Europe and the UK. 

In December, QuadReal announced a $495M strategic industrial partnership with LaSalle: 

QuadReal Property Group (“QuadReal”), a global real estate investment, development and operating company, has formed a strategic partnership with global investment manager LaSalle Investment Management (“LaSalle”) that will recapitalize a US$495M portfolio within QuadReal’s direct U.S. industrial platform.

The high-quality, state-of-the-art US industrial portfolio includes 11 assets, totaling 3.3M sq ft across major population centers near critical infrastructure in five states including Georgia, Pennsylvania, New Jersey, Texas and Washington state. LaSalle will acquire a 49% interest in the portfolio, with QuadReal retaining majority ownership and continuing to manage the assets on behalf of the partnership.

“This partnership capitalizes on QuadReal’s direct operating capabilities, the very intentional portfolio we have built, and it reinforces our deep conviction in the Industrial sector,” said Jamie Weber, Head of Americas for QuadReal. “We look forward to deepening our relationship with LaSalle, a likeminded and long-term oriented investor.”

“Expanding our presence in key U.S. logistics markets is a core part of LaSalle’s investment strategy,” said Stuart Sziklas, Global Portfolio Manager, LaSalle Investment Management. “This transaction allows us to access a high-quality portfolio in markets with strong fundamentals, while creating long-term value.  We’re pleased to work alongside QuadReal and look forward to future opportunities together.”

The partnership terms also provide for an additional capital commitment from LaSalle for the acquisition of similarly high-quality, well-located industrial assets. This leaves a significant runway to expand its real estate investment portfolio in partnership with QuadReal.

QuadReal’s high-conviction investment strategy and international experience have established the firm as a top 20 real estate investor globally. Industrial is a high-conviction sector for QuadReal, with the firm’s US portfolio amounting to 23.5M sq ft of industrial space and global industrial portfolio of 156.3m sq ft. 

Denis Lopez and his team at QuadReal are firing on all cylinders, acquiring prime assets all over the world investing wisely across their capital structure.

I don't cover them enough but always looking at their transactions closely, they're doing great work.

Below, Spencer Levy talks with Panattoni’s Robert Dobrzycki and CBRE’s Jack Cox as they unpack Europe’s logistics sector. Gain insights into CRE trends, investment opportunities, and market outlook (June, 2025).