Barings targets €1b of assets with pan-European logistics JV

Barings has secured the commitment of a further €200 million ($227 million) for a pan-European logistics joint venture (PELV) between a U.S. insurance company and a Middle Eastern sovereign wealth fund. PELV launched with an initial equity commitment of €200 million ($227 million) in 2019 and is now targeting a total portfolio size of €1 billion ($1.1 billion) of assets.

The current portfolio comprises a total of 315,000 square meters (3.4 million square feet) of class A logistics space in strategic locations in Germany and France, including two recently acquired development projects in Southern France. PELV is also in advanced negotiations to acquire further 170,000 square meters (1.83 million square feet) in prime Southern European locations.

PELV will continue its strategy of targeting core-plus and value-add logistics assets in strong submarkets across Europe that are characterized by a shortage of new or refurbished space, as well as robust demand for urban