SICORE Real Assets has completed another acquisition in the logistics segment. A property with an area of approximately 24,000 square metres, located in Saint-Vulbas, France, north-east of Lyon, was acquired. This transaction marks the third acquisition of a significant logistics asset for the company, which had previously acquired properties of comparable size in the vicinity of Valencia and Frankfurt am Main. The acquisition underscores SICORE Real Assets' growth strategy in logistics, aiming to further increase the proportion of logistics properties in its managed portfolio, which currently stands at over 14 percent.
The seller of the property and, simultaneously, the long-term and sole occupant of the premises is the logistics company Astr’in, under a sale-and-lease-back structure. Astr’in has contractually committed to the location for a minimum period of twelve years. The macro-location in Saint-Vulbas benefits from its proximity to the greater Lyon area, France's second-largest conurbation and a key logistics hub. The site is located approximately 30 minutes north-east of Lyon Airport. Additionally, the micro-location offers direct access to the D20, D84, and D124 main roads.
Property Characteristics and Sustainability
The acquired property is designed as a six-part, single-storey logistics warehouse and offers an area of nearly 23,500 square metres. In addition, the property includes a single-storey annex providing approximately 500 square metres for office, social, and technical areas. The flexible layout of the warehouse allows for versatile use. The facilities also include 39 car parking spaces and eight lorry parking spaces.
The property is characterised by its young age and high-quality condition. The first three sections of the logistics warehouse were completed in 2019, with an extension comprising the further three sections completed in 2022. This ensures modern standards, also with regard to sustainability. The asset has accordingly been classified in energy efficiency class A.
Dr. Nikolai A. Mader, Head of Investment Management Real Estate at SICORE Real Assets, commented on the acquisition. He emphasised that intermodally connected properties of this quality in established logistics clusters are rarely available. He highlighted the successful collaboration with Astr’in, which led to a sustainable win-win solution, and thanked all parties involved for their contribution. The transaction strengthens SICORE Real Assets' presence in the French logistics market. BNP acted as the intermediary in this transaction.
