Acquired as part of Barings’ core strategy in 2022, Örebro Ånsta 20:272 is a plot upon which a Grade A logistics asset comprising a total of c. 30,000 sq m NLA will be developed. The premises will house Mitsubishi Electric’s Nordic central warehouse, with construction set to begin in February 2023 and completion expected by December 2023. Barings is targeting a rating of Green Building Silver and subsequently BREEAM Excellent “In use”.

Logistic Contractor has been appointed to build the c. 30,000 sq m building, of which around 7,000 sq m remains to be let. Örebro is one of the Nordics’ best logistics locations benefitting from excellent transport links to Stockholm (Sweden), Oslo (Norway) and Malmö/Copenhagen (Denmark).

Over the past 12 months, Barings has agreed approximately 65,000 sq m of new lettings in its logistics assets in Sweden, having ca. EUR 930m of assets under management in the Nordics on behalf of its core and value-add funds.

Savills represented Barings on the letting to Mitsubishi Electric. Broadgate acts as project manager on the development and initiated the letting to Mitsubishi Electric.

Kristina Johnson, Head of Nordics Real Estate Asset Management at Barings, said: “Mitsubishi Electric’s decision to make our Ånsta asset its central warehouse for its Nordics operations is a ringing endorsement of the high sustainability standards to which we will be developing this building. The latest substantial letting in a long line of recent deals across our Nordics logistics assets, it’s reflective of the strength of this sector in this market and why we as a firm are continuing to explore logistics investment opportunities in the Nordics and across Europe.”

Anders Moström, who is responsible for Mitsubishi Electric’s real estate sites in Sweden, said: "We are very pleased with this establishment in an excellent logistics location. The new warehouse is an important part of our expansion in both Sweden as well as the Baltics. Through this establishment we’ll achieve new heights in terms of capacity, efficiency and sustainability."

Rikard Lindkvist, Head of Industrial & Logistics at Savills Sweden AB, said: "Many parties have worked hard in order to achieve this letting, and we are very pleased with the results. I would like to extend a big thank you to Mitsubishi Electric, Logistic Contractor and of course Barings for a very good collaboration"

Contacts:
Tali Robinson/Polly Warrack/Ben Monteith (SEC Newgate)
baringsRE@secnewgate.co.uk

Barings Real Estate
Barings Real Estate (BRE) is a part of Barings and offers a broad range of global investment opportunities across the private debt and equity investment markets. BRE invests in all major property sectors and offers an expansive range of financing solutions to real estate borrowers.  Follow us on LinkedIn at www.linkedin.com/showcase/barings-alternative-investments.

About Barings
Barings is a $347+ billion* global investment manager sourcing differentiated opportunities and building long-term portfolios across public and private fixed income, real estate, and specialist equity markets. With investment professionals based in North America, Europe and Asia Pacific, the firm, a subsidiary of MassMutual, aims to serve its clients, communities and employees, and is committed to sustainable practices and responsible investment.

*Assets under management as of 31 December, 2022