The 27,622 sq m property in Saint-Laurent-de-Mure was purchased in July 2019 as part of a portfolio of three assets let to La Poste – one of which, in Migné-Auxances in Poitiers, has also been sold, and the remaining one after this sale, in Villeneuve-la-Garenne, remaining under management. Saint-Laurent-de-Mure was built in 2004 specifically for the tenant, which has a lease until 2029, and is made up of 25,215 sq m of warehouse space, 2,139 sq m offices, and 222 sq m of other uses on a 66,395 sq m total land area. It also includes 154 external light vehicle parking units and 47 spaces for heavy-goods vehicles.

The property is in a prime logistics hub within what is known as the French ‘backbone’, the logistics corridor that crosses the country from Lille in the north to Marseille in the south, passing through Lyon. Saint-Laurent-de-Mure is a prime location, 17km east of Lyon, only 4.5km from Lyon airport, and located alongside the A432 highway that links to a number of additional highways.

The asset in Saint-Laurent-de-Mure is the second core logistics asset that Barings has sold to the LOGICS fund, following the disposal of a 55,600 sq m asset in Ontigola, Spain, at the end of 2024.

Barings was advised by Oudot Notaires (Valérian Conrad-Bruat, Victor Sempé et Léane Sautet) et Edmond de Rothschild (Mohamed Debbagh, Clara Yeremian, Lyes Badji).

Fidelity International was advised by Factor’Industry Real Estate (Commercial), Le Breton Notaires (notary), Arcadis France (Technical & ESG), EVS (Legal & Tax), and CBRE (Valuation). Factor’Industry Real Estate will continue to support the implementation of the business plan as commercial advisor.

Both parties agreed not to disclose financial information.

Guillaume Bieganski, Managing Director and Country Head France at Barings Real Estate, said: “Benefitting from an excellent location along France’s most important logistics corridor, offering easy access across the country and into Italy and Switzerland, and amid very strong interest among investors for core+ logistics assets, our on-the-ground team identified the opportunity to exit in a shorter holding period than our original business plan proposed. The French logistics market continues to be a compelling one in western Europe and we remain actively acquisitive across our preferred asset classes, including logistics and living, in cities across the country.”

Gunther Deutsch, Managing Director, Head of European Transactions and Country Head Germany at Barings Real Estate, said: “This transaction is further testament to our active and successful asset management by our local teams. France in particular has proven to be a very interesting and profitable market for Barings and its partners. Following our aim to actively recycle capital across our countries we have already sold seven assets with a value of €380m in 2025 with some more to come in the pipeline. With nearly €2bn to invest in equity opportunities this year, we are also interested in core+ and value-add transactions. This can be done through developers JVs or forward transaction across all of our jurisdictions.”

Yinjie NI, Real Estate Investment Transactions Manager at Fidelity International, comments: “After our initial investment for LOGICS in Combs-la-Ville in early 2025, we are thrilled to strategically expand  our French portfolio with a new off-market acquisition in Saint-Laurent-de-Mure, located in the East Lyon Region - one of the most prominent logistics markets in France. We plan to implement an ambitious capex plan to renovate the asset and substantially enhance its ESG and sustainability aspects, fully aligning with the fund’s Manage-to-Green strategy.”

Aymeric de Seresin, Lead Portfolio Manager of LOGICS, states: “We are excited to add the Saint-Laurent-de-Mure asset into LOGICS portfolio, reaching 11 assets with approximately 300,000 sqm GLA across well-established European logistics markets. Following the successful first and second closes which raised €310m in capital commitments, and with a final close anticipated later in 2025, we are well-positioned for capital deployment thanks to our robust pipeline in Europe and the UK.”

For Barings
Ben Monteith/Tom Carnegie (SEC Newgate)
baringsRE@secnewgate.co.uk

Barings Real Estate
Barings Real Estate (BRE) is a part of Barings and offers a broad range of global investment opportunities across the private debt and equity investment markets. BRE invests in all major property sectors and offers an expansive range of financing solutions to real estate borrowers.  Follow us on LinkedIn at linkedin.com/showcase/barings-alternative-investments.

About Barings
Barings is a $442+ billion* global asset management firm that partners with institutional, insurance, and intermediary clients, and supports leading businesses with flexible financing solutions. The firm, a subsidiary of MassMutual, seeks to deliver excess returns by leveraging its global scale and capabilities across public and private markets in fixed income, real assets and capital solutions.

*As of March 31, 2025 

About Fidelity International
Fidelity International offers investment solutions and services and retirement expertise to more than 2.8 million customers globally. As a privately held, purpose-driven company with a 50-year heritage, Fidelity International thinks generationally and invests for the long term. Operating in more than 25 locations and with $900.7 billion in total assets, its clients range from central banks, sovereign wealth funds, large corporates, financial institutions, insurers, and wealth managers, to private individuals.

Its Global Platform solutions business provides individuals, advisers and employers with access to world-class investment choices, third-party solutions, administration services and pension guidance. Together with its Investment Solutions & Services business, it invests $620.8 billion on behalf of its clients. By combining its asset management expertise with its solutions for workplace and personal investing, Fidelity International works together to build better financial futures. Data as of 31 March 2025. Read more at fidelityinternational.com.