Barings acquires prime logistics development in Amsterdam
Barings Real Estate has entered into a forward purchase of a site in Amsterdam, The Netherlands, in direct proximity to Schiphol Airport to develop a Grade A 38,750 sq m logistics platform.
The investment is part of Barings’ pan-European core investment strategy, on behalf of institutional investors.
The development comprises a single building, with plans to subdivide into seven units of similar size. The units will include ground floor warehouse space, with mezzanine and offices. Part of the ground floor could serve as a showroom. The site is well located, approximately one mile from Schiphol Airport, with direct access to the A4 highway.
The vendor is a joint venture between Delta Development and VolkerWessels. Barings was advised by ELREP, European Logistics Real Estate Partners (Acquisition) and DLA (Tax/Legal).
Gunther Deutsch, European Head of Transactions at Barings Real Estate, says: “This is Barings second acquisition in the Netherlands following the acquisition of a core office building earlier this year. The proximity to Amsterdam and Schiphol Airport were primary considerations in pursuing this logistics opportunity. The logistics sector is fast growing and we see value in investing in the early stages of these transactions to enhance our returns. Aside from the Netherlands, we are seeking core, value add and opportunistic logistics opportunities across all key Western European markets where Barings has offices.”
Barings Alternative Investments (BAI), part of Barings LLC, is a 470-plus associate team located across 11 countries that manages USD49.3 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. We serve as a trusted partner to clients, leveraging our global presence and robust origination capabilities to identify the most attractive risk-adjusted return opportunities. As a leading global real estate investor and asset manager, the Barings Real Estate team offers a broad range of investment opportunities across the public and private debt and equity markets, investing across property sectors with a focus on global relative value and trend-backed preferred strategies.