Paris, 1 July 2025 – Racine advised Europe ESR, the European arm of the ESR Group, on the purchase of a 22,000 sq m urban logistics site from Barnings, located 35 minutes south of Paris.

ESR Europe is the European arm of the ESR Group, a global leader in real estate investment management that specialises in the new economy. With over 30 years’ experience, ESR Europe primarily operates in Western Europe, where it has a team with expertise across the entire value chain. With $1.5 billion in assets under management, the group stands out for its comprehensive range of offerings, including public markets, discretionary equity and credit funds, and joint ventures.

Barings is one of the world’s leading asset managers, with over $442 billion in assets under management. Its real estate division, Barings Real Estate, invests in all the main property sectors, including logistics, residential properties and prime city centre offices. The division offers a wide range of financing and investment solutions, including private debt and equity markets, and emphasises a rigorous approach to asset management with a focus on value creation.

As part of Project Jasmine, an initiative to consolidate urban logistics assets in France, the acquisition of this site has strengthened ESR Europe’s position in the market significantly. Situated in one of the country’s major industrial hubs close to Paris, the site boasts significant potential for value creation through an ambitious modernisation programme, incorporating ESG enhancements. This acquisition fully aligns with the group’s value-add strategy, which focuses on e-commerce growth and developing a diversified portfolio. The asset was acquired in an off-market transaction from an institutional investor, with senior debt financing obtained simultaneously from a French lender.

Racine advises with a team comprising Fabrice Rymarz and Quentin Cournot (Partners) and Romain Taugourdeau (Associate) on tax matters.

Lebreton Notaires advises on notarial matters with a team comprising Thomas Raballand, Alice Andral and Catherine Trejaut.

Iréo advises on technical advisory matters.