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Real Estate Acquisition of a Logistics Platform in Lyon


In July, Zurich-based Credit Suisse Asset Management and Paris-based Belvedere Capital have acquired off-plan a 28,000 sqm logistics platform in Montagnat — in the Lyon region, for a fund managed by Credit Suisse AM.

The project, which benefits from an extension capacity of 6,000 sqm, is entirely pre-leased over a firm period of 9 years, as part of a forward lease agreement signed with a distribution player.

The platform will benefit from the latest generation technical specifications as well as the best environmental certifications, BREEAM Very Good and Energy Star Rating. It will also have a photovoltaic power plant on the roof. The construction site was launched at the beginning of August.

"We are delighted to have concluded the purchase of the firrst logistics platform in France during this turbulent period. This new acquisition is in line with our funds' strategy in terms of sustainable development and responds to the environmental challenges ahead", announced Joachim von Radecke, Head Acquisitions & Sales EMEA at Credit Suisse.

"We have a very strong appetite for resilient, leased, preleased or speculative logistics assets or portfolios with the best technical and environmental characteristics, located in strategic markets with deep employment pools," said Belvedere Capital founding partners Bruno Cohen and Silvio Estienne. We have exclusive rights to study other logistics topics that meet these demanding criteria."

This is the third acquisition made by Belvedere Capital and a fund managed by Credit Suisse in the French market.

The purchaser was advised by the notary firm C&C, the law firm CMS Francis Lefebvre, Etyo and Siemens for the technical and energy due diligence, and Cushman & Wakefield for the commercial due diligence. The seller was advised by the notary firm Alcaix & Associés, Fabien Lefebvre lawyer, Immasset as AMO and Arthur Loyd.

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