has acquired a cold-storage logistics centre in Germany on behalf of its value-add real estate fund.
Barings, on behalf of its BREEVA II fund, has paid an undisclosed sum to buy the 68,000sqm building complex at Seeberger Strasse 10 in Altlandsberg from BEOS Corporate Real Estate Fund Germany IV.
The cold-storage facility is fully-leased to retail logistics specialist Metro Logistics. The property was built as a specialised distribution hub for grocery logistics in 1995 and fully modernised in 2017.
Sascha Becker, managing director and country head real estate Germany at Barings, said: 鈥淗andling cold storage real estate requires specialist expertise in investment and asset management, which we have successfully built up and expanded upon in recent years.
鈥淭he decisive factor for this particular investment was the value-add potential combined with the strategic location at the A10 motorway, with excellent connectivity to Berlin鈥檚 inner city.鈥�
Gunther Deutsch, the head of transactions Europe and managing director of Germany at Barings, said: 鈥淲e have been an active investor in temperature-controlled logistics across Europe for many years, especially in the Nordics, the Netherlands, the UK, Italy, France and Spain.
鈥淥nly this summer, we successfully divested a pan-European logistics portfolio which included cold-storage facilities in Germany. The asset class will remain a focus of our core and value-add strategies in 2022 because we see particularly strong potential for rental increases in the temperature-controlled space.鈥�
Broker Colliers International Deutschland advised the seller in the transaction. Barings was advised by , CMS (legal), Arcadis (technical) and Deloitte (tax).
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