Barings Expands Italian Portfolio With Logistics Acquisition In Veneto Region
Jul 22, 2019
Barings, one of the world’s largest diversified real estate investment managers, announces the acquisition of a portfolio of six logistics assets comprising c. 95,000 square meters. This acquisition also includes the forward funding of two pre-let developments, in Veneto region, North East of Italy, on behalf of one of its managed accounts.
The transaction has been structured in two parts with Barings acquiring a diversified portfolio of four logistics assets, including cold storage and traditional warehouses, comprising a total of ca. 34,000 square meters fully let to a specialist Italian logistics operator.
Barings has also agreed to forward fund the development of a two “build-to-suit” Grade A traditional warehouses totaling ca. 61,000 square meters, which are also fully let on long term leases to another logistics operator. The properties, which will have a LEED score, are expected to complete in 2020.
The assets are in a prime location in Verona province, a prime logistics hub due to its attractive position at the intersection between the east-west and north-south of Europe’s core network corridor, providing access to important road links including the A4 and A22 motorway.
Valeria Falcone, Managing Director, Real Estate Country Head – Italy, said: “This transaction presents a rare opportunity to acquire a high quality logistics portfolio, with the potential to produce sustainable, index linked income in a market with strong fundamentals, partnering with third party logistics operators in northern Italy. These assets play an important role in the occupier’s distribution network due to their prime locations which offer excellent connectivity across Europe and the rest of Italy.”
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Barings Real Estate offers a broad range of global investment opportunities across the public and private debt and equity [real estate] investment markets. We invest in all major property sectors and offer a broad range of financing solutions to real estate borrowers. We also specialize in providing government and government-sponsored entity lending products through our wholly owned subsidiary, Barings Multifamily Capital. Follow us on LinkedIn at www.linkedin.com/showcase/barings-alternative-investments.
Barings is a $317+ billion* global financial services firm dedicated to meeting the evolving investment and capital needs of our clients and customers. Through active asset management and direct origination, we provide innovative solutions and access to differentiated opportunities across public and private capital markets. A subsidiary of MassMutual, Barings maintains a strong global presence with business and investment professionals located across North America, Europe and Asia Pacific.
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