Gowling WLG advises Clarion Partners Europe on €30 million construction loan for Paris logistics development

2 minute read
23 June 2021

Gowling WLG (France) is pleased to have once again advised Clarion Partners Europe, a real estate investment fund manager specialising in logistics and industrial assets, on a €30 million senior development loan and a circa €8 million VAT facility from Caisse d'épargne Ile-de-France (of French banking group BPCE) and global investment manager AEW, to fund the construction of a Grade-A warehouse in Reau, 40 kilometres south east of Paris. Clarion Partners Europe acquired the site, on behalf of one of its co-mingled funds, in October last year, via a forward funding agreement.

Construction of the institutional quality, 68,642 sqm logistics warehouse is underway and the building is expected to be delivered later this year. The scheme, which will be suitable for a range of tenants, will feature modern, generic and flexible floorplates with clear heights of 11.5m and BREEAM Very Good.

The transaction showcases the Gowling WLG's specialist cradle to grave service in real estate financing projects.

Gowling WLG's team advising on the deal was led by Banking & Finance partner Danhoé Reddy-Girard, supported by Wendy Au, associate.

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