Barings has acquired a 166,000sqm plot in Germany on behalf of its pan-European logistics joint venture PELV.
The real estate fund manager has invested an unspecified amount to acquire the asset in Herleshausen for a 72,000sqm logistics project.
It is the fifth acquisition Barings has completed in the European logistics market in the past couple of months. Barings has also acquired a 78,000sqm site in Balocco, Italy, and a 39,000sqm site in Helsinki, Finland – both on behalf of PELV. It has further acquired a 210,000sqm site in Lisbon, Portugal and a 70,000sqm site in Mantua, Italy, on behalf of its second European real estate value-add fund.
Sascha Becker, managing director and country head Germany at Barings Real Estate, said: “This site represents a tremendous opportunity to create a new, high-quality, logistics space in the heart of Germany. Logistics real estate in Germany remains a deeply attractive proposition for our investors, given the compelling supply and demand dynamics.”
Rob Fairfax, director and portfolio manager for PELV, said: “Logistics remains a compelling investment class across Europe in 2024, particularly where our global insights and local knowledge enable us to identify opportunities before they reach the market.
“As we continue to deploy capital across our investment jurisdictions – the Nordics, Netherlands, UK, France, Italy and Spain, in addition to Germany – we are particularly interested in exploring joint venture development projects and refurbishments, on a forward transactions basis or stabilised assets with value-add potential.”
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