{"id":1004454718,"date":"2020-06-08T05:11:06","date_gmt":"2020-06-08T13:11:06","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004454718"},"modified":"2020-06-08T05:11:06","modified_gmt":"2020-06-08T13:11:06","slug":"barings-grows-swedish-logistics-portfolio","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/barings-grows-swedish-logistics-portfolio\/","title":{"rendered":"Barings Grows Swedish Logistics Portfolio"},"content":{"rendered":"
\"\"

Image via Pixabay<\/em><\/p><\/div>\n

Working on behalf of institutional investors, Barings has acquired four logistics assets in Norrk\u00f6ping, Sweden, a major logistics hub, for about $104 million (\u20ac92 million) in a sale-leaseback transaction.<\/p>\n

The portfolio totals about 1.3 million square feet (122,000 square meters) of net rentable space and is fully occupied by PostNord TPL AB, a third-party logistics provider owned by the Swedish and Danish governments. Two units, representing 75 percent of the total income, offer Class A space and are leased on 15-year terms, while the other two have four years remaining on their leases.<\/p>\n

\n

READ ALSO:<\/strong> KKR Acquires Stake in European Logistics Company<\/a><\/p>\n

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Norrk\u00f6ping is Sweden\u2019s fourth-largest metro and home to the Port of Norrk\u00f6ping. The city is close to Stockholm, Gothenburg and Malm\u00f6; is a crossroads for the E22 and E4 motorways; and is within 2.5 hours of 40 percent of Sweden\u2019s population, or 4 million people.<\/p>\n

Barings\u2019 management portfolio in Scandinavia includes offices, retail and residential properties and now also industrial space. In a prepared statement, Thorsten Slyt\u00e5, Barings managing director & head of Scandinavia, commented that e-commerce penetration in Sweden is ahead of southern Europe, but lags that in the United Kingdom and Germany. <\/p>\n

Gunther Deutsch, managing director, head of real estate transactions \u2013 Europe, added that Barings currently is pursuing nine potential transactions in the logistics sector. The company is a subsidiary of MassMutual and one of the world\u2019s largest diversified real estate investment managers.<\/p>\n

E-commerce Going Strong<\/strong><\/h2>\n

E-commerce growth in Sweden is expected to be healthy this year, driven in part by a population that includes ample digital natives and a focus by vendors on improving the delivery experience, according to a 2020 outlook from CBRE. \u201cThe increased need for last-mile logistics to meet consumer expectations of fast deliveries will increase the demand for logistics space in city fringes<\/em>.\u201d<\/p>\n

Because logistics space can be built more quickly<\/a> than office, provided that zoning and related issues don\u2019t present obstacles, CBRE predicts that logistics rents in Sweden will remain flat this year. In landlords\u2019 favor, however, the forecast says, logistics tenants are \u201cstickier\u201d than those in the office sector and are less inclined to take the risk of moving to new quarters.<\/p>\n

In January, Barings purchased from Kennedy Wilson<\/a> a group of 10 retail properties in Spain, all of them leased to leading European supermarket chain Carrefour.<\/p>\n","protected":false},"excerpt":{"rendered":"

The $104 million sale-leaseback expands the company\u2019s European logistics holdings by four buildings and 1.3 million square feet. <\/p>\n","protected":false},"author":882,"featured_media":1004454721,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,21748,16,21783,21742],"tags":[34275],"class_list":["post-1004454718","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-industrial","category-international","category-investment","category-latest","tag-barings"],"acf":[],"yoast_head":"\nBarings Grows Swedish Logistics Portfolio - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/barings-grows-swedish-logistics-portfolio\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Barings Grows Swedish Logistics Portfolio\" \/>\n<meta property=\"og:description\" content=\"The $104 million sale-leaseback expands the company\u2019s European logistics holdings by four buildings and 1.3 million square feet.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/barings-grows-swedish-logistics-portfolio\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2020-06-08T13:11:06+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/06\/Distribution-center.-Image-via-Pixabay.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"620\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Scott Baltic\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/barings-grows-swedish-logistics-portfolio\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/barings-grows-swedish-logistics-portfolio\/\",\"name\":\"Barings Grows Swedish Logistics Portfolio - 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