Key Takeaways
- Fidelity Real Estate Logistics Impact Climate Solutions Fund (LOGICs) II acquired Barings for $40.0M.
- Sector: Real Estate.
- Geography: France.
Analysis
The 27,622 sq m asset was originally acquired in July 2019 as part of a three-asset portfolio leased to La Poste. This sale follows the disposal of another site in Migné-Auxances and leaves a third property in Villeneuve-la-Garenne under Barings' management.
Built in 2004 for La Poste, the facility comprises 25,215 sq m of warehouse space, 2,139 sq m of offices, and 222 sq m of ancillary space, situated on 66,395 sq m of land. It also features 154 light vehicle parking spaces and 47 for heavy goods vehicles. The tenant remains under lease until 2029.
Strategically located within France’s main logistics corridor, known as the "French backbone", the asset benefits from proximity to Lyon airport (4.5 km) and major highways via the A432. This area is one of the country's most prominent logistics hubs.
This marks the second transaction between Barings and the LOGICS fund, following the sale of a 55,600 sq m facility in Ontigola, Spain in late 2024.
Guillaume Bieganski, Managing Director and Country Head France at Barings, highlighted the strong investor demand and strategic location that enabled an early exit from the original business plan. Gunther Deutsch, Head of European Transactions, noted that Barings has already sold €380 million worth of assets in 2025, and is actively seeking core+ and value-add opportunities, with €2 billion in equity to deploy.
On the buyer’s side, Fidelity International’s Yinjie NI emphasized the off-market nature of the deal and its alignment with LOGICS’ Manage-to-Green strategy, targeting ESG improvements. Aymeric de Seresin, LOGICS Portfolio Manager, noted the fund has grown to 11 assets and ~300,000 sqm GLA, and continues to build momentum ahead of its final close later in 2025.