Barings has acquired a logistics asset in the Helsinki region of Finland in an off-market transaction for €86 million ($104.8 million) from NRP, on behalf of a Pan-European core strategy.
The asset comprises a logistics facility with 40,000 square meters (430,500 square feet) and 170,000 square meters (1.8 million square feet) of outdoor dispatching and storage space, which is fully let to Onninen, Finland’s market leader in technical wholesale services, which uses the assets as its Finnish central warehouse. The site also has more than 100,000 square meters (1.08 million square feet) of unused building rights and site coverage of around 19 percent, allowing the potential for future development opportunities.
The asset is located in Hyvinkää, one of the Helsinki region’s top logistics municipalities, and benefits from strong transport links to central Helsinki and the rest of Finland via the E12 and 25 highways. The country’s busiest cargo port, Vuosaari, and
