Virtuo & TPG Real Estate launch French logistics venture

Virtuo Industrial Property and TPG Real Estate, through its Intervest platform, have formed a joint venture to launch a €200 mln logistics development portfolio in France. 

V. Park Chavagnes 1

This initiative, financed by Cheyne Capital with a €115 mln development facility, aims to address the undersupply of high-quality, low-carbon logistics spaces in key French markets.
The partnership leverages Virtuo's expertise in sustainable logistics and Intervest's investment capabilities. The portfolio currently includes two active developments:
V.Park 1 Chavagnes-en-Paillers is a 19,000 m2 platform near major cities, featuring biodiversity-promoting elements and solar panels. Expected completion in Q1 2026.
V.Park Montchanin is a 50,000 m2 logistics platform divided into four units, strategically located between Paris and Lyon with strong multimodal connectivity. Construction starts in November 2025, with completion in Q4 2026.
Four additional projects are in the pipeline: V.Park 2 and 3 Chavagnes-en-Paillers, V.Park Les Essarts, and V.Park Montereau.
All projects are designed for BREEAM Excellent certification, incorporating sustainable features like landscaped parking, rainwater harvesting, EV charging, rooftop solar panels, and biodiversity-friendly elements such as beehives and wildflower meadows.
Grégory Blouin, president, Virtuo Industrial Property, said: " Together with TPG Real Estate and Intervest, we are giving tangible form to our purpose: designing logistics spaces that reconcile economic efficiency and environmental responsibility. Through these six new projects, we aim to demonstrate that logistics can be a positive force for territories, a driver of innovation, and a key contributor to the low-carbon transition."
Joël Gorsele, CEO, Intervest, commented:  "Partnering with a best-in-class developer in the French market such as Virtuo, with a proven track record of sourcing, delivering, and leasing high-quality logistics schemes tailored to tenants’ evolving needs, perfectly aligns with Intervest’s strategy to expand our sustainable logistics footprint across Europe. Together, we are creating modern, efficient, and future-ready facilities that support our customers’ growth while advancing environmental responsibility. "
Jean-Charles Prido, executive director, Cheyne Capital, added: "We are delighted to support Virtuo and TPG Real Estate through this landmark development programme, which brings together two highly experienced and forward-thinking partners in the logistics sector. Our facility underpins a shared ambition to deliver high-quality, sustainable assets that respond to strong occupier demand in undersupplied French markets."
Alteo Investment Management will oversee the portfolio's asset management, prioritizing performance and sustainability to ensure the logistics assets achieve long-term value and progress in low-carbon operations.
For this transaction, TPG received advice from CBRE, Depardieu and Allez & Associés. VIRTUO was advised by BCLP, Oudot & Associés, and Rothschild & Co. Cheyne Capital's advisors were GIDE and Lasaygues.