Barings, on behalf of a core European real estate strategy, has acquired a portfolio of four multi-let urban logistics properties across the southeast of England for £145.2 million ($184.4 million) from Blackstone.
Known as the Access portfolio, the assets are located in Basingstoke (Tyson Park), Bracknell (The Sterling Center), Welwyn Garden City (Centrapark) and Milton Keynes (Stratus Business Park). In total, the portfolio includes 28 units spanning 746,795 square feet, with occupancy in excess of 90 percent.
All four estates are located in the South East submarket and within an hour’s drive of London. The South East benefits from favorable demand/supply dynamics due to limited availability of land for development and occupiers being priced out of London.
DTRE advised Barings. JLL acted on behalf of Blackstone.
Henry Marlow, director, U.K. transactions, at Barings Real Estate, said, “This transaction offered the opportunity to acquire a hig
