Indosuez, the private banking and wealth management division of Crédit Agricole, and the real estate manager Azora have come together to launch the first specialist last-mile logistics company.
In this way, the new vehicle will be aimed at clients of the French entity, who see an opportunity to achieve net returns of 8% -9%, according to financial sources speaking to El Confidencial. The Socimi, which will be called Milepro, plans to raise 60 million euros of capital and so will have 120 million euros available to spend.
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