Parc d'Activités is a French industrial fund which will invest in multi-let industrial estates primarily located in the Ile-de-France (Greater Paris) area, and targets a 12% per annum internal rate of return over the Fund’s 10 year life. The Fund will acquire properties where Valad can apply its proven active asset management strategies to enhance investor returns.

Four industrial parks in the Ile-de-France have been acquired for A$168 million (€102m) and represent the seed assets for the Fund. These assets have been recycled from Valad Continental Partners (VCP), Valad’s joint venture warehouse facility with HBOS. The properties were originally sourced and subsequently managed by GViO, Valad’s Paris-based business headed by Gilles Vaissié. GViO is a leading industrial property specialist, managing a portfolio of 45 industrial estates with a value of A$1.2 billion (€735m) on behalf of Valad funds.