Barings acquires prime logistics development in France
Barings Real Estate has agreed to forward purchase, in an off market transaction, the development of a circa 23,000 sq m grade A logistics warehouse in Nanteuil le Haudouin, France, from Nexity Immobilier d’Entreprise, as part of its pan European core investment strategy, on behalf of an institutional investor.
The development, which will be built to a BREEAM “Very Good” rating, comprises four cells and includes 1,040 sq m of office space. Work has started and the property will be completed in 10 months’ time. Situated in the ZAC du Chemin de Paris, an established industrial park, the warehouse is located in a prime location North East of Paris on one of the main logistics corridor in France. In addition, the asset provides excellent connectivity to the surrounding highway network, as well as the international Roissy CDG airport.
Severine Laffineur, Head of France at Barings Real Estate, says: “Demand for quality logistics units in France continues to be very strong. Given the prime location and the excellent build quality, this should be a very successful development. We will continue to grow our presence in France through acquisitions across the risk spectrum in the logistics, office and retail sectors.”
Barings was advised by BNP Paribas Real Estate (Real Estate) and Oudot & Associés (Notary). Nexity was advised by Etude Trocadéro (Notary).
Barings Alternative Investments (BAI), part of Barings LLC, is a 400 plus associate team located across 11 countries that manages USD52.6 billion in client capital. BAI seeks differentiated sources of returns by incorporating decades of investment experience in alternative assets offering investors access to a diverse range of opportunities across private equity, real assets, asset-based investments and the four quadrants of real estate. BAI serves as a trusted partner to clients, leveraging global presence and robust origination capabilities to identify the most attractive risk-adjusted return opportunities. The Barings Real Estate team offers a broad range of investment opportunities globally across the public and private debt and equity markets. The team invests across all major property sectors with a focus on global relative value and trend-backed preferred strategies.