EDF Invest and Generali Real Estate announce major co-investment in French logistics sector

EDF Invest, the investment arm of the EDF Group, and Generali Real Estate have unveiled a new co-investment program in the French logistics sector. As part of the agreement, EDF Invest has acquired a 50% stake in the investment vehicle OPPCI Parcolog Invest from Generali France, with the remaining 50% held by the Generali Group through its pan-European logistics strategy, the Generali Real Estate Logistic Fund (GRELF).

OPPCI Parcolog Invest currently owns a portfolio of nine high-quality logistics assets in France valued at approximately €400 million. These assets include strategic locations such as Moussy le Neuf near Roissy, XXL platforms in Hénin Beaumont (Lille) and Plaine de l’Ain (Lyon), and other properties in Marseille Clésud, Avignon, Bourg en Bresse, Le Mans, and the Lille region. The co-investors aim to further expand the portfolio with new acquisitions and logistics developments over the coming years.

Generali Real Estate views OPPCI Parcolog Invest as its key vehicle for logistics investments in France, while continuing its broader expansion across continental Europe through the GRELF fund. This collaboration with EDF Invest is expected to enhance the growth of Generali’s logistics portfolio by leveraging third-party capital.

“This partnership with EDF Invest, which began two years ago in the office sector, now extends to logistics, a critical asset class for Generali Real Estate. We are honored by the trust of our partners and are committed to delivering investment solutions that align with their objectives,” said Sébastien Pezet, Head of Western Europe at Generali Real Estate.

Pierre-David Baylac, Head of Logistics at Generali Real Estate, expressed optimism about the partnership’s potential. “This co-investment with EDF Invest allows us to strengthen our position in France at a pivotal moment for the logistics market. We are excited about the future growth opportunities through OPPCI Parcolog Invest and the GRELF fund.”

Clémence Caniaux, Head of Real Estate at EDF Invest, highlighted the strategic alignment of the acquisition. “This investment enhances our portfolio’s exposure to the logistics sector and reflects our long-term strategy. We look forward to deepening our partnership with Generali through this high-quality portfolio.”

The transaction has been financed by a consortium of leading banks, including CACIB, BNPP, and Société Générale. Generali Real Estate will oversee asset management, while property management will be handled by Parcolog Gestion/Primelog.