Barings Real Estate has entered into a forward purchase of a site in Amsterdam, The Netherlands, in direct proximity to Schiphol Airport to develop a Grade A 38,750m² logistics platform. The investment is part of Barings’ pan-European core investment strategy, on behalf of institutional investors. The vendor is a joint venture between Delta Development and VolkerWessels. The purchase price was not disclosed.
The development comprises a single building, with plans to subdivide into seven units of similar size. The units will include ground floor warehouse space, with mezzanine and offices. Part of the ground floor could serve as a showroom. The site is well located with direct access to the A4 highway.
Gunther Deutsch, European Head of Transactions at Barings Real Estate, said: “This is Barings second acquisition in the Netherlands following the acquisition of a core office building earlier this year. The proximity to Amsterdam and Schiphol Airport were primary considerations in pursuing this logistics opportunity. The logistics sector is fast growing and we see value in investing in the early stages of these transactions to enhance our returns. Aside from the Netherlands, we are seeking core, value-add and opportunistic logistics opportunities across all key Western European markets where Barings has offices."
