Barings has acquired a £145.2m (€170m) UK logistics portfolio of four assets from Blackstone.
Barings, investing through its core European real estate strategy, has acquired the 746,795sqft Access portfolio comprising the multi-let urban logistics properties located in Basingstoke, Bracknell, Welwyn Garden City and Milton Keynes.
Barings said the occupancy for the portfolio is over 90%.
Henry Marlow, UK transactions director at Barings Real Estate, said: “This transaction offered the opportunity to acquire a high quality portfolio made up of four individually highly liquid assets that offer significant reversionary potential. Given the supply-demand dynamics in the south east of England, particularly among mid-box and multi-let industrial estates, where development remains constrained due to land and build costs, the Access portfolio should yield a healthy income return and good rental growth.
“Logistics remains one of our preferred markets in the UK, alongside living assets, whether that’s for core-plus or value-add investments.”
Gunther Deutsch, managing director, head of European transactions and country head for Germany at Barings Real Estate, said: “This transaction marks our first portfolio acquisition in 2025, which we hope to follow with further smaller and medium sized national or European logistics portfolios as well as significant single-asset transactions, preferably in our target markets of the UK, France, Germany, Spain, Italy, the Netherlands and the Nordics.
“As a result of our diverse European strategies, we’re in the fortunate position to explore risk profiles in the core, and core-plus to value-add spectrum, ranging from standing assets that can benefit from asset management initiatives to improve their performance, right through to joint ventures with developers to seek value-add returns. Besides logistics, residential and office investments are also on top of our target list.”
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