Barings Real Estate has made its second acquisition in the Netherlands with an agreement to forward purchase a logistics site for an undisclosed sum.
The manager said the deal, to buy the 38,750sqm logistics platform in Amsterdam, 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 site is located about a mile from Schiphol Airport.
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.
Gunther Deutsch, the 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.”
Deutsch said 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.”