Harbert Management Corporation and Aire Capital Partners Forward Fund Paris Business Park Development in Limeil-Brévannnes
PARIS, June 17, 2026 — Harbert Management Corporation (HERE), the European real estate investment platform of U.S.-based alternative asset manager Harbert Management Corporation (HMC), and Aire Capital Partners, an independent French real estate asset and investment manager, have announced the forward funding of a business park development in Limeil-Brévannnes, a commune in the southeast of the Paris city-region. Financial terms were not disclosed.
Deal Structure and Development Partners
The acquisition from Avenir Développement is structured as a Property Development Agreement — known in France as a Contrat de Promotion Immobilière (CPI) — with Gefec serving as the development manager. Construction has commenced on-site, with project completion expected in the third quarter of 2027. The development is already generating early interest from prospective occupiers, according to the announcement.
Advisers on the transaction include BNP Paribas Real Estate, notary office Screeb, law firms DLA Piper and Apollo Global Management, and project manager Etyo.
Project Details: Eight Buildings, 15 Units, Sustainability Focus
Once completed, the development will comprise 8,700 square meters spread across eight multi-let buildings designed for light industrial and accompanying office use. The scheme will be divisible into 15 units, with individual units starting from 428 square meters in size.
The project is located adjacent to the Limeil-Brévannnes station on the C1 cable car line — the first cable car system in the Île-de-France region, which became operational in December 2025. The site also benefits from connectivity to central Paris via Metro Line 8, as well as road access to the A86 motorway and Paris Orly Airport.
The development is targeting BREEAM Excellent certification and will incorporate rooftop photovoltaic panels as part of its sustainability specifications.
Expanding HERE's French Business Park Portfolio
The announcement follows HERE's January 2026 acquisition of an initial approximately 73,000 square meter business park portfolio in France through a joint venture with DeA Capital Real Estate. With the addition of the Limeil-Brévannnes project, HERE's French business park portfolio now totals more than 120,000 square meters of light industrial and ancillary office space.
To date, HERE has managed more than 1 million square meters of multi-let industrial assets across core European markets, representing a combined gross asset value in excess of €1.8 billion, according to the firm.
Most recently, HERE completed the disposal of a convenience retail portfolio in the Netherlands through two concurrent sales, which CBRE market data identified as the country's largest such transaction in six years.
Executives Comment on the Transaction
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-Brévannnes 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 the Firms
Harbert Management Corporation is an alternative asset manager with approximately $7.8 billion in Regulatory Assets Under Management as of May 31, 2026. Founded in 1993, the firm is privately owned and serves institutional investors across multiple asset classes, including European and U.S. real estate, power, seniors housing, growth capital, and credit solutions.
Harbert European Real Estate, founded in 2002, maintains offices in the United Kingdom, France, and Spain. The platform targets investment opportunities across the residential and living, industrial and logistics, office, and retail sectors in Western Europe.
Aire Capital Partners is an independent French real estate asset and investment manager focused on identifying and executing real estate investment opportunities in France alongside institutional partners.
Fonds De Solidarité FTQ is listed among the confirmed participants in the transaction.
Sources
Harbert Management Corporation. "June 2026 – Harbert European Real Estate and Aire Capital Partners acquire Paris business park development." June 17, 2026. https://harbert.net/news/june-2026-harbert-european-real-estate-and-aire-capital-partners-acquire-paris-business-park-development