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Sign in Sign up for a FREE subscriptionBarings acquires cold-storage logistics center in Germany
Barings has acquired a cold-storage logistics center near Berlin on behalf of value-add strategy real estate fund BREEVA II from the BEOS Corporate Real Estate Fund Germany IV. The parties agreed not to disclose the purchase price.
The 68,000 square-meter (731,946-square-foot) building complex at Seeberger Strasse 10 in Altlandsberg, Germany, is divided into five units with traffic access from two sides. The 178,000 square-meter (1.9 million-square-foot) plot also includes parking spaces for 445 cars and 43 lorries. It is entirely leased to retail logistics specialist Metro Logistics.
The cold-storage facility is a fit for BREEVA II’s logistics strategy and follows the acquisition of a 126,000 square-meter (1.4 million-square-foot) portfolio in the Nordics and further assets in the United Kingdom and Italy.
The property was built as a specialized-distribution hub for grocery logistics in 1995 and fully modernized in 2017. About one third of the space is cool