VIRTUO and TPG Real Estate-via its Intervest platform join forces to launch a €200M speculative logistics portfolio in France, backed by a Cheyne development facility.
The joint venture, backed by TPG Real Estate via its Intervest platform, will bring high-quality, low-carbon logistics space to critically undersupplied markets across France. Cheyne have provided a development facility to support the JV.
VIRTUO INDUSTRIAL PROPERTY, an independent mission-led company specialising in innovative and responsible logistics real estate, and TPG Real Estate after the acquisition in 2024 of Intervest, a leading logistics institutional investment company, announces the signing of a joint venture to initiate speculative development of a ~€200 million logistics in key undersupplied markets across France.
Backed by TPG Real Estate, the joint venture brings together complementary capabilities and reflects Virtuo and Intervest ’s shared focus on providing high-quality, modernized logistics space in key markets across France. The joint venture has already started two developments, V.PARK 1 Chavagnes-en-Paillers (85) and V.PARK Montchanin (71). and initiated 4 others : V.PARK 2 and 3 Chavagnes-en-Paillers, V.PARK Les Essarts (85), and V.PARK Montereau (77).
V.PARK Chavagnes-en-Paillers will comprise three buildings ideally situated at the crossroads of major Western cities of Nantes, Angers, Niort and Le Mans, with direct access routes to Paris and Bordeaux. The first phase, which consists of a 19,000 sqm platform, is currently under construction and expected to deliver in Q1 2026.
The project also sets a benchmark in environmental responsibility, incorporating hedgerows, beehives, wildflower meadows and rooftop solar panels, reaffirming Virtuo’s commitment to low-carbon and biodiversity-friendly logistics.
V.PARK Montchanin involves the development of a 50,000 sq.m logistics platform divided into four 12,000 sq.m units, set on an 11-hectare site at the heart of a strategic industrial area between Paris and Lyon. Ideally located along the A6 motorway, close to Le Creusot TGV station and a freight rail terminal, the site benefits from dual passenger and freight accessibility, promoting multimodal transport connections.
Construction is scheduled to begin in November 2025, with completion expected in the fourth quarter of 2026.
All the projects target BREEAM Excellent certification and stand out for their sustainable design, which includes landscaped parking areas, rainwater harvesting systems, electric vehicle charging stations, rooftop solar panels, and biodiversity-friendly features such as beehives, bird boxes, and wildflower meadows.
The portfolio’s asset management will be led by Alteo Investment Management. With its focus on performance and sustainability, Alteo IM will ensure these logistics assets deliver both lasting value and real progress toward low-carbon operations.
In this transaction TPG REAL ESTATE was advised by CBRE and DEPARDIEU and VIRTUO by BCLP, OUDOT & Associés and ROTHSCHILD & Co.
