Barings offloads French logistics asset to Fidelity International

Global real estate investment manager Barings has sold a logistics property near Lyon, France, to Fidelity International's Logics fund, for an undisclosed figure.

Logistics asset

This marks the second core asset Barings has sold to this fund. 
Originally acquired in 2019 as part of a three-property portfolio leased to La Poste, the 27,622 m2 Saint-Laurent-de-Mure property has now been sold. This 2004-built facility comprises 25,215 m2 of warehouse space, 2,139 m2 of office space, and a small additional area, situated on a 66,395 m2 site. It offers ample parking for both cars and trucks and is leased to La Poste until 2029. Of the original three properties, one other has been sold, while the last remains under management.
Located in the prime logistics corridor connecting Lille to Marseille, the property sits in Saint-Laurent-de-Mure, an ideal location just 17km east of Lyon and 4.5km from the airport. Its proximity to the A432 highway and connections to other major roadways further enhances its strategic positioning.
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: “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 €380 mln in 2025 with some more to come in the pipeline. With nearly €2 bn 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, commented: “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 m2 GLA across well-established European logistics markets. Following the successful first and second closes which raised €310 mln 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.”
This Saint-Laurent-de-Mure property is the second core logistics asset Barings has sold to the Logics fund, following the late-2024 sale of a 55,600 m2 property in Ontigola, Spain.
Oudot Notaires and Edmond de Rothschild advised Barings on the sale, while Fidelity International received counsel from Factor’Industry Real Estate, Le Breton Notaires, Arcadis France, EVS, and CBRE. Factor’Industry Real Estate will also continue to serve as commercial advisor.