The joint venture, backed by TPG Real Estate via its Intervest platform, and financed by a development facility from Cheyne Capital, will deliver high-quality, low-carbon logistics space to critically undersupplied markets across France.
VIRTUO INDUSTRIAL PROPERTY (“Virtuo”), an independent mission-led company specialising in innovative and responsible logistics real estate, and TPG Real Estate, through its Intervest platform, a leading logistics institutional investment company, have announced the launch of a ~€200 million logistics development portfolio in key undersupplied markets across France. The programme will be financed through a c.€115 million development facility provided by Cheyne Capital, the global alternative investment manager, to support the joint venture.
The joint venture brings together Virtuo’s deep expertise in sustainable logistics developments and Intervest’s institutional investment capabilities, backed by TPG Real Estate. Together, the partners aim to deliver high-quality, low carbon logistics facilities that respond to the growing occupier demand and supply chain requirements across France.
The portfolio includes two active developments, V.PARK 1 Chavagnes-en-Paillers (85) and V.PARK Montchanin (71), with four additional projects in the pipeline: V.PARK 2 and 3 Chavagnes-en-Paillers, V.PARK Les Essarts (85), and V.PARK Montereau (77).
V.PARK Chavagnes-en-Paillers – located at the crossroads of Nantes, Angers, Niort and Le Mans, with direct access to Paris and Bordeaux, the scheme will comprise three buildings. The first phase, which consists of a 19,000 sqm platform, is under construction and expected to deliver in Q1 2026. Designed to promote biodiversity and environmental stewardship, the project features hedgerows, beehives, wildflower meadows and rooftop solar panels, underscoring Virtuo’s commitment to low carbon and biodiversity-friendly logistics.
V.PARK Montchanin – this development will create a 50,000 sq.m logistics platform divided into four 12,000 sq.m units on an 11-hectare site between Paris and Lyon. Strategically positioned along the A6 motorway, near Le Creusot TGV station and a freight rail terminal, it will benefit from strong multimodal transport connectivity. Construction is scheduled to begin in November 2025, with completion expected in Q4 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 was advised by CBRE, DEPARDIEU and ALLEZ & Associés, VIRTUO was advised by BCLP, OUDOT & Associés and ROTHSCHILD & Co, and Cheyne Capital was advised by GIDE and LASAYGUES.
