20 June 2023
MIMCO Green Value acquires industrial site in Toulon, in partnership with developer ADM

MIMCO Green Value announces the acquisition of business premises in the industrial and commercial zone of La Farlède, east of Toulon, to develop an integrated urban logistics warehouse.

MIMCO Green Value is delighted to announce the acquisition of a key asset located in La Farlède, east of Toulon. This acquisition is a significant step towards developing MIMCO Green Value as a real estate player in value creation, in particular in the logistics sector.

This acquisition was carried out in collaboration with ADM, a specialized operator dedicated exclusively to the regeneration and recycling of old, end of life stage or abandoned land in suburban areas. ADM’s strategy is focused on the redevelopment of obsolete, potentially damaged, environmentally polluted, and asbestos-contaminated sites.

ADM specializes in the development of new-generation, value-add, sustainable real estate projects.

« Together with our partner MIMCO AM, we are delighted to be able to demonstrate, through our project, ADM’s expertise in urban recycling of derelict sites.

In consultation with the Commune de la Farlède, we will be implementing our urban renewal strategy in a sustainable, high-quality environmental approach. In response to environmental sustainability and economic challenges, ADM acts against urban sprawl and artificialization of the soil by regenerating degraded and neglected city areas to avoid the artificialization of natural areas. ADM, it’s 100% urban recycling for 0% urban sprawl, » comments Marceau Pinault, Chairman of ADM.

This asset, located in a strategic area, will initially be rid of asbestos, other polluants and deconstructed in order to recover all the reusable materials for the construction of the new project. It will then be transformed into an urban logistics warehouse to meet the needs of local businesses. The aim of the project is to create a modern, efficient storage space that meets the highest standards of the logistics industry. The warehouse will be designed to offer excellent flexibility of use and optimize the flow of goods.

It will be adapted to integrate state-of-the-art automation systems as well as sustainable energy and environmental solutions.

The acquisition of this asset underlines MIMCO Green Value’s commitment to develop innovative and sustainable logistics solutions. The company strives to meet the growing needs of the urban logistics sector while minimizing its environmental impact. The project will contribute to the operational efficiency of future user companies, while promoting a responsible resource management and reducing carbon footprint.

« We are delighted to acquire this asset in La Farlède, working closely with our partner ADM to develop an urban logistics warehouse that will meet the needs of local and national players in the Toulon Provence Méditerranée metropolitan area, » says Olivier Pioch – Investment Director, MIMCO Asset Management. « This initiative is in line with our vision of a more sustainable and efficient logistics sector, offering high-quality, environmentally friendly storage solutions. We look forward to contributing to the region’s economic development while minimizing our impact on the planet, » adds Ara Adjennian, Managing Partner, and Associate of MIMCO AM.

MIMCO Green Value and ADM look forward to continuing to work closely with local authorities, logistics industry experts and environmental partners to ensure that the development of logistics projects meets the highest standards and most ambitious targets for sustainability and environmental protection.

MIMCO Asset Management and ADM would like to thank their partners in this project: Adden for the legal aspects, Cheuvreux for the notarial aspects, JLL and Enipe Capital for the sale and acquisition advisory aspects. Financing is provided by Banque SOCFIM

MIMCO Asset Management S.A.S. au capital de 400.000 EURRCS Paris n° 898 003 124 • Agrément AMF n° GP-21000018Adresse : 87 Boulevard Haussmann 75008 Paris
E-mail : [email protected] – www.mimco-am.com  


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