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Belvedere and Barings acquire a XXL platform in Béziers (34)

Updated: Aug 2, 2022

Belvedere Capital advises Barings Real Estate for the acquisition (forward funding) of an off-market speculative logistics 50,000 sqm XXL platform in Occitanie Region (France) Barings Real Estate and Belvedere Capital have closed at the end of 2021 the forward funding acquisition of a 50,000 sqm logistics platform in the “parc d’activité logistique Logiparc La Méridienne”, in the City of Béziers. The purchase contract was signed on behalf of a joint-venture between an American insurance company and a Middle-Eastern sovereign fund.

Located at the junction of the A9 and A75 motorways, the platform will benefit from a strategic situation and an exceptional accessibility. Once built, its 50,000 sqm area spread over 5 cells will be fully classified as a Class A warehouse. Benefiting from the most recent safety norms, it will also receive a Breeam Very Good certification. A solar panels plant will be installed and operated on the entire surface of its roof. The construction has started at Closing and the delivery is expected in October 2022. « With this new transaction on behalf of a new and highly regarded client, Belvedere Capital demonstrates once again its ability to source and secure, often off-market, high quality projects , pre-let or speculative, benefitting from the best technical and environmental characteristics, strategically located in markets with strong fundamentals allowing an optimized exploitation and secured revenues over the long term», state Bruno Cohen and Silvio Estienne, the funding partners of Belvedere Capital.

They take this opportunity to remind that, for the logistics business, Belvedere Capital operates now its investment and asset management activities under the brand name of Alpha Logistics Real Estate, founded in July 2021 with Arthur Loyd Asset Management. The purchaser was advised by Cushman & Wakefield for the commercial aspects, Oudot & Associés as notaries, the Allen & Overy law firm and Etyo for the technical due diligence. Etyo will also act as the purchaser’s project manager during the construction phase.

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