Barings, one of the world’s largest diversified real estate investment managers, announces the acquisition of a portfolio of six logistics assets comprising ca. 95,000 square meters, on behalf of an institutional investor. This acquisition also includes the forward purchase of two pre-let developments, in Veneto region northeast of Italy.
The transaction has been structured in two parts with a Barings advised investment fund acquiring a diversified portfolio of four logistics assets, consisting of cold storage and traditional warehouses, comprising a total of ca. 34,000 square meters fully let to a specialist Italian logistics operator.
The second phase involves the forward purchase of the development of a two “build-to-suit” Grade A traditional warehouses totaling ca. 61,000 square meters, which are also fully let on long-term leases to another logistics operator. The properties, which will have a LEED score, are expected to complete in 2020.
The assets are in a prime location in Verona province, a prime logistics hub due to its attractive position at the intersection between the east-west and north-south of Europe’s core network corridor, providing access to important road links including the A4 and A22 motorway.
Source : Barings Real Estate