Investment and property management firm Barings Real Estate has acquired a 30,500 m2 logistics development at the Haies Blanches park in Coudray-Montceaux in the Ile de France region of France.
The facility, which is being developed by Panhard Group on a speculative basis, is being sold for an undisclosed amount.
The operation is partially financed by BNP Paribas.
Construction of the facility started in September and the building is expected to be delivered in July 2018.
This is Barings’ second acquisition in France on behalf of a new pan-European, multi sector, value add investment strategy.
Gunther Deutsch, European head of Transactions at Barings Real Estate Advisers, said, 'We are planning to further strengthen our French portfolio not only in the value add sector, but are also looking at Core and Core plus property transactions across the office, retail and logistics sectors within the country.'
Law firm LPA-CGR, Oudut & Associés (notaries) and Turnbull Associés (technical advisors) advised Barings Real Estate on the deal. The Panhard group was advised by Panhard & Associés (notaries) and by the BNP Paribas Real Estate (property advisors). BNP Paribas was advised by Rochelos Besins et Associés (notaries) and Shearman & Sterling (lawyers).
