Barings purchases prime logistics development in Amsterdam

Global real estate investment manager Barings Real Estate, part of Barings LLC, has inked a forward-purchase agreement for a site in Amsterdam, The Netherlands, with plans to develop a Grade A logistics platform covering 38,750 m2. 

The vendor is a joint venture between Delta Development and VolkerWessels. Financial details were not disclosed.

Located in direct proximity to Schiphol Airport, the investment is part of Barings’ pan-European core investment strategy, on behalf of institutional investors.

'This is Barings' second acquisition in the Netherlands following the acquisition of a core office building earlier this year,' said Gunther Deutsch, European head of transactions at Barings Real Estate.

'The proximity to Amsterdam and Schiphol Airport were primary considerations in pursuing this logistics opportunity,' he added.

'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.'

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.

Barings was advised by ELREP, European Logistics Real Estate Partners (Acquisition) and DLA (Tax/Legal).


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