Logistics real estate specialist Argan has announced rental income of €166.1 million for the full year 2022, up 6% on 2021, with an acceleration to +9% in the last quarter.

This growth is mainly due to the full-year effect of deliveries in 2021, and to rents generated by the six new developments delivered since the beginning of the year, and by the acquisition of a 153,000 m² warehouse from Renault Group in October.

At December 31, 2022, the portfolio under construction represented 3,500,000 m². Its value rose by 5% year-on-year, to 3.94 billion euros excluding transfer duties, giving a capitalization rate of 4.45%, up slightly from 4.3% at the end of 2021.

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