Barings invests €211m in Swedish logistics portfolio

Barings invests €211m in Swedish logistics portfolio
Image: Courtesy of Skanska

Barings has agreed to the off-market forward purchase of a portfolio of logistics assets in Sweden from Skanska for c. €211 million. 

The portfolio comprises six assets due for completion in 2022 and 2023. The first two assets are located in Helsingborg and are currently under construction, representing a total value of c. €111 million, while the remaining four assets represent an additional c. €100 million and will be located in Stockholm, Gothenburg and Malmö.  

Set to deliver more than 128,000 sq m of Grade modern A logistics space to the market, all six assets will be completed to the highest specification and will include a number of key sustainability features, including solar panels for green energy generation and green concrete. All assets will have a green profile and meet the requirements for a “GreenBuilding” certification. 

Located in key logistics markets in Sweden – Gothenburg, Helsingborg, Malmö and northern Stockholm – the completed assets will be supported by a compelling supply/demand dynamic and situated within the Nordic Trade Triangle; a geographic area served by the main transport routes that link Stockholm, Oslo, Helsinki, and Copenhagen together into a coherent Nordic logistics network. 

Nick Pink, Head of Europe Real Estate Portfolio Management, said: “To have sourced and executed this off-market transaction is a strong endorsement of the depth of our platform in the Nordics, particularly at a time when the logistics market in this region has been experiencing a sustained period of significant growth, driven by the globalization of e-commerce and increasing urbanization. Sweden has in particular been characterised by its low supply of Grade A logistics space.”

Gunther Deutsch, Managing Director, Head of Real Estate Transactions – Europe and Managing Director Germany at Barings, added: “Given the planned high specification of portfolio, alongside its compelling range of locations, we look forward to leveraging the growing occupier demand for modern logistics facilities to realise our business plan and generate long-term income.”