The portfolio comprises six assets due for completion in 2022 and 2023. The first two assets are located in Helsingborg and are currently under construction, representing a total value of €111m, while the remaining four assets represent an additional €100m and will be located in Stockholm, Gothenburg and Malmo. Set to deliver more than 128,000m² of Grade modern A logistics space to the market, all six assets will be completed to the highest specification and will include a number of key sustainability features, including solar panels for green energy generation and green concrete. All assets will have a green profile and meet the requirements for a “GreenBuilding” certification. The portfolio will add significant scale to Barings Nordic region logistics footprint. It directly meets its objective to acquire best-in-class space with high sustainability credentials and long-term growth potential.
Nick Pink, Head of Europe Real Estate Portfolio Management, said: “To have sourced and executed this off-market transaction is a strong endorsement of the depth of our platform in the Nordics, particularly at a time when the logistics market in this region has been experiencing a sustained period of significant growth, driven by the globalization of e-commerce and increasing urbanization. Sweden has in particular been characterised by its low supply of Grade A logistics space.”
Gunther Deutsch, Managing Director, Head of Real Estate Transactions – Europe and Managing Director Germany at Barings, added: “Given the planned high specification of the portfolio, alongside its compelling range of locations, we look forward to leveraging the growing occupier demand for modern logistics facilities to realise our business plan and generate long-term income.”