Barings has acquired a 70,000 square metres site in Italy from a private Italian company to speculatively develop a logistics project.
The fund manager has invested an undisclosed amount through an Italian real estate fund managed by Savills IM SGR to acquire the site in San Giorgio Bigarello in Mantua (Mantova), on behalf of its second European value-add real estate fund, BREEVA II.
Barings expects to develop a 37,000 square metres logistics warehousing which is expected to be completed in early 2025. The latest project represents the manager’s third investment in the area.
BREEVA II’s logistics portfolio includes a recently acquired 210,000 square metres site near Lisbon in Portugal and last month’s acquisition of a 78,000 square metres site for a logistics scheme in Balocco in Vercelli, Italy.
Source: realassets.ipe.com on the 20th of February