Barings Acquires Two prominent Logistics Assets in Milan
Nov 22, 2019
Barings, one of the world’s largest diversified real estate investment managers, announces the acquisition of two prime logistics assets (the “assets”) on behalf of an institutional investor. The assets are prominently located in Milan, Italy.
“This transaction presented a rare opportunity to acquire two core assets in an off-market transaction for our investor,” said Valeria Falcone, Managing Director, Real Estate Country Head Italy and Portfolio Manager at Barings. “The assets are located a short distance from Milan city centre, in an undersupplied area with potential for rental uplifts and yield compression. The e-commerce sector is expanding rapidly in Italy, which is likely to generate a growing demand in the region for high quality logistics assets such as these two properties.”
“This acquisition represents a milestone for Barings in Europe as it brings our logistics transactions total to over €600 million,” said Gunther Deutsch, Managing Director, Head of Real Estate Transactions – Europe for Barings. “We remain interested in expanding our logistics activity further in our target countries of Finland, Sweden, the Netherlands, Germany, UK, France, Spain and Italy and we continue to look for properties in risk sectors from core to value add.”
The assets are notably located in Cavenago and Cambiago and comprise c.66,100 and c.24,100 square metres of space, respectively. Both properties are fully let with long-term leases to an Italian-listed company.
Both assets benefit from a prime strategic location that allows for direct and convenient access to the A4 (or E64) motorway, which is widely considered the most important Italian axis for logistics. The motorway runs East-West along the Mediterranean and the Alpine logistics corridors, which is a favourably short distance from Milan city centre.
Barings is a $335+ 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.
*As of September 30, 2019
Barings Real Estate
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
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