Barings Acquires Franklin Distribution Center
Feb 07, 2020
Barings, one of the world’s largest diversified real estate investment managers, announced today the acquisition of Franklin Distribution Center (the “Property”). The Property, purchased on behalf of institutional investors, is a best-in-class, cross-docked warehouse facility. The Property, located in Franklin, MA, was completed and purchased in January 2020 through a forward commitment initiated in 2018.
John Ockerbloom Head of U.S. Real Estate Equity said, “We are excited with the acquisition of Franklin Distribution Center, and recognize that this modern industrial building will strengthen our portfolio. The Property has benefitted from both market rent growth and robust leasing prior to closing. The industrial asset class is strong. I’m proud of our U.S. Real Estate Equity team for identifying and closing on this opportunity.”
Franklin Distribution Center features 36-foot clear ceiling heights, 150-foot truck courts, 80 dock doors and 304 car parking spaces. Energy efficient systems include LED lighting and ESFR sprinklers.
Franklin Distribution Center sits on approximately 40-acres that holds the 300,000 square-foot, Class A warehouse. The Property, 100% pre-leased prior to closing, is prominently situated along Greater Boston’s premier industrial corridor which has seen strong rent growth in recent years.
Barings Real Estate
Barings Real Estate (BRE) offers a broad range of global investment opportunities across the private debt and equity real estate investment markets. BRE invests in all major property sectors and offers a broad range of financing solutions to real estate borrowers. BRE also specializes 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 $338+ 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. Learn more, at www.Barings.com.
*As of December 31, 2019
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