Whether it's a sale or a new lease, the real estate private equity investor leverages its local presence to make its mark.
Le Fontenay, in Lyon (CoStar)
"Having a local presence is an undeniable asset," assures Antoine Fossati, Executive Director of Mata Capital's Lyon office, which manages nearly €250 million in investments across the greater Southeast quarter, "with a portfolio almost 100% leased." "You have to be close to your buildings, your tenants, the agents, the ecosystem; that has always been our conviction," he explains, before delving into his memories: "Remember: in 2024, we acquired 92 cours Lafayette from its former owner, who managed it from afar. Ultimately, our local presence allows us to feel the market, seize opportunities, and maintain fluid communication with our contacts."
The deal for 63 André-Bollier illustrates this, following the acquisition of two-thirds of this 6,000 m² complex in June 2024 on behalf of a value-added fund aiming to "create value within five years" and a "thorough analysis of its occupancy status," explains Antoine Fossati, detailing this owner-occupier sale strategy. "The school that occupied the ground and first floors left on July 31st, and we finalized the sale to Ladapt on September 4th. Today, we still have a 750 m² floor plate for which there are viewings, with the other floors we own already leased. In terms of performance, the situation is ideal."
In his view, Mata Capital benefits here from the "relevance of its offering" – particularly focused on small and medium-sized units (PMS) – which he considers "liquid," "well-located," and "with environmental quality." He adds: "We are convinced of an opportunity market, particularly in central urban areas like Part-Dieu or Gerland, offering prospects that are currently almost non-existent for users in terms of divisibility or pricing."
Value creation
The asset leased by On Air – which Mata Capital acquired in 2021 – illustrates "the group's strategic flexibility in redeveloping real estate assets," notes Antoine Fossati. Located in the Sept Chemins area, the complex, initially occupied by ALD (which notably manages Société Générale's car fleet), became vacant in April. "On Air wanted to establish itself in Eastern Lyon and set its sights on our building, which was almost 3,000 m²," he summarizes. "We therefore supported them in this, always attentive to their local needs."
On the residual land, two units are currently under development, representing an additional 800 m², in order to "finalize value creation on this asset," explains the Executive Director, who is pleased to detail this major transaction in the retail market.
For these two operations, Mata Capital was advised by Thomas Broquet (On Air), Savills France (Ladapt), and Laurent de Labrouhe (Agi & Associés).
By Benoît Léger
Business Immo