Real estate investment manager Barings has agreed to the off-market forward purchase of a portfolio of logistics assets in Sweden from Skanska for €211 mln.
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 €111 mln, while the remaining four assets represent an additional €100 mln and will be located in Stockholm, Gothenburg and Malmö.
Set to deliver over 128,000 m2 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 sustainability features, including solar panels for green energy generation and green concrete.
The portfolio will add significant scale to Barings Nordic region logistics footprint. 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 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.’
Pangea advised Barings.
