Real estate investment manager Barings has completed the acquisition of a prime logistics scheme spanning 39,000 square metres in Helsinki, Finland, on behalf of its European logistics joint venture (PELV) from an international asset manager.
Financial details were not disclosed.
Representing the first investment by Barings on behalf of PELV in the Nordics, the asset is made up of two warehouses constructed in 2009 and is fully let to three tenants. Building A, which contains 33,800 square metres of gross lettable area (GLA), benefits from 10.5-10.8 metre free ceiling height, while Building B offers 10.5 metres free ceiling heights across 5,000 square metres GLA.
The scheme is within five minutes of Helsinki Airport.
Barings' Finnish portfolio consists of a hotel asset, U14, and a large logistics asset in Hyvinkää, north of Helsinki, both of which it acquired on behalf of a European strategy to acquire core real estate.
Source: propertyeu.info on the 29th of February, 2024