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Sign in Sign up for a FREE subscriptionBarings buys three French courier assets from BNP Paribas REIM
Barings has acquired three grade-A courier assets in France on behalf of institutional clients for a core investment strategy from an OPCI (French REIT), managed by BNP Paribas REIM.
The assets are spread out among the French cities of Paris, Lyon and Poitiers and comprise 71,000 square meters (764,237 square feet) of space and are fully let to Poste Immo, real estate subsidiary of France’s national postal service, Le Groupe La Poste.
Including this portfolio, Barings has purchased four logistics assets in France this year for its core strategy, representing a total value of €150 million ($164 million).
“These latest assets not only further increase our exposure in France but also introduce us to the growing urban logistics market through the purchase of Villeneuve-la-Garenne in Paris,” said Séverine Maumy-Laffineur, managing director and real estate country head –- France at Barings. “When appropriate, the asset will be repositioned to fit the requ
