Barings, one of the world’s largest diversified real estate investment managers, announces the off-market acquisition of a new Grade A logistics asset in Muret, Greater Toulouse, from developer, Vectura, on behalf of institutional clients for a core investment strategy. Barings has also entered into a binding agreement to forward fund the development of a 23,000 square meter extension of the property.
The 40,000 square meter building is fully let to a large industrial company, which offers a strong covenant on a long-term lease. After winning the tender for construction, Vectura completed the asset to a high specification in 2016 as a build-to-suit project. The asset now serves as the occupier’s only international logistics hub. The building has a ‘Very Good’ High Quality Environmental (HQE) rating.
Located 20 kms south of Toulouse, France’s fourth largest city, the property prominently sits along the A64 highway on the Atlantic Corridor, which is one of the two main logistics routes in France. Furthermore, the Property is strategically located at the crossroads of Southern Europe between Spain, Southern France and Italy.
Source : Barings Real Estate