June 2026 - Harbert European Real Estate and Aire Capital Partners acquire Paris business park development

Paris, 17 June 2026 - Harbert European Real Estate (HERE), the European real estate investment platform of US-based alternative asset manager Harbert Management Corporation (HMC) and Aire Capital Partners, an independent French real estate asset and investment manager, today announce the forward funding of a business park development in Limeil-Brévannes, a commune in the southeast of the Paris city-region. Financial details are not being disclosed.

The acquisition from Avenir Développement is structured as a Property Development Agreement (Contrat de Promotion Immobilière - CPI) with Gefec. Construction has started on-site, with completion expected in Q3 2027, and the project is already generating early interest from prospective occupiers.

Once completed, the 8,700 sq m development will comprise eight multi-let buildings designed for light industrial and accompanying office use, divisible into 15 units from 428 sq m in size. Located adjacent to the "Limeil-Brévannes" C1 cable car station, the first cable car system in the Île-de-France region (operational since December 2025), the project benefits from direct connectivity to central Paris via Metro Line 8, as well as strong road accessibility with rapid connections to the A86 motorway and Paris Orly Airport.

The properties are being developed with advanced sustainability specifications, incorporating rooftop photovoltaic panels and targeting BREEAM Excellent certification.

Advisers on this transaction include BNP Paribas, notary office Screeb, law firms DLA Piper and Apollo, and project manager Etyo.

In January of this year, HERE announced the acquisition of an initial c.73,000 sq m business park portfolio in France through a joint venture with DeA Capital Real Estate. With today's announcement, HERE's French business park portfolio now totals more than 120,000 sq m of high-quality light industrial and ancillary office space. To date, HERE has managed more than 1 million sq m of multi-let industrial assets across core European markets, representing a combined gross asset value in excess of €1.8bn.

Most recently, HERE completed the disposal of a convenience retail portfolio in the Netherlands through two concurrent sales. According to market data tracked by CBRE, it is the country's largest such transaction in six years.

Eric Desautel, Principal & Head of France at Harbert Management Corporation, said: "This investment reflects one of our highest-conviction themes and our ambition to continue funding the delivery of high-quality new-build assets in prime locations. In an environment where new development is becoming increasingly complex and constrained, sustainable assets aligned with evolving regulatory standards are becoming ever more valued by both occupiers and long-term investors."

Lionel Lacroix MRICS, Managing Partner at Aire Capital Partners, added: "This business park is a strong example of the forward-looking and attractive market opportunities we seek to identify alongside our partners. We are delighted to continue contributing our expertise and know-how alongside HMC in the creation and enhancement of modern business parks. This acquisition is the result of a long-standing collaborative effort with the teams at Gefec and HMC."

Stéphane Berry, Head of Development at Gefec, commented: "This project continues our longstanding collaboration with the municipality of Limeil-Brévannes and the developer SPL Avenir Développement. Two years ago, we delivered a standalone 4,000 sq m building within the same development zone on behalf of an investor. This new partnership with the teams at HMC and Aire Capital Partners enables us to envisage the development of further projects together. We would like to thank all of our partners for their trust and support throughout this transaction."

About Harbert Management Corporation

Harbert Management Corporation is an alternative asset manager with approximately $7.8 billion in Regulatory Assets Under Management as of May 31, 2026. Formed in 1993, the firm is privately owned and serves a variety of institutional investors across multiple asset classes. Investment strategies include European and U.S. real estate, power, seniors housing, growth capital, and credit solutions. For additional information about HMC, visit www.harbert.net

About Harbert European Real Estate

Founded in 2002, Harbert European Real Estate (HERE) is one of Europe's longest-tenured value-add real estate investors. With established offices in the UK, France, and Spain, the platform has invested across market cycles in Western Europe, building deep local networks and strong on-the-ground execution capabilities.

HERE targets investment opportunities across the residential and living, industrial and logistics, office, and retail sectors in Europe's most liquid markets. The focus is on high-quality assets where active management, repositioning, or development has the potential to unlock sustainable value.

For more information, please contact Montfort Communications: [email protected]