Barings Real Estate has agreed to forward purchase a logistics development in France on behalf of an institutional investor.
The investment manager said it will buy the development of a 23,000sqm grade A logistics warehouse in Nanteuil le Haudouin from Nexity Immobilier d’Entreprise, as part of its pan European core investment strategy,
No financial details were disclosed.
Barings said the development has started and the property will be completed in 10 months’ time.
Severine Laffineur, Head of France at Barings Real Estate, said: “Demand for quality logistics units in France continues to be very strong. Given the prime location and the excellent build quality, this should be a very successful development.
“We will continue to grow our presence in France through acquisitions across the risk spectrum in the logistics, office and retail sectors.”