Manova Partners sells logistics asset to Morgan Stanley

Manova Partners has sold a fully let cross‑dock logistics asset in Gonesse, Val‑d’Oise, to a fund managed by Morgan Stanley Real Estate Investing (MSREI) in an off‑market transaction. 

Cross-Dock Logistics Asset in Gonesse. Copyright: Manova Partners 

The property comprises around 13,000 sq m and is located at a key transport hub in the Greater Paris region. The long‑standing occupier recently renewed its lease.

Julia de Bonnefon, Head of Transactions France, Belgium and Luxembourg at Manova Partners, said the deal highlights sustained investor appetite for well‑located logistics assets. “The transaction demonstrates continued investor demand for well‑located logistics assets with solid fundamentals and reversionary potential. We have actively managed the property over many years and further strengthened its long‑term income security through the recent lease renewal.”

The asset benefits from proximity to Paris Charles de Gaulle Airport and strong connectivity to the A1 and A3 motorways, two of the region’s main arterial routes.

Manova Partners held the property for around 10 years, pursuing an active asset management strategy led by Dimitri Maillard, head of asset management Western and Southern Europe, with Tom Villate as lead asset manager.

JLL and Fire AM advised the buyer. Manova Partners was advised by Osborne Clarke on legal matters, while Clifford Chance acted for the buyer. Wargny Katz served as notary on the transaction.