Barings buys 40,000sqm French logistics
Real estate manager Barings has acquired a fully-let French logistics asset with development opportunity from developer Vectura.
Barings bought the 40,000 square metre asset in Muret. Also, it has entered into an agreement to forward fund the development of a 23,000 square metre extension of the property.Financial details were undisclosed.
Séverine Maumy-Laffineur, managing director and real estate country head – France at Barings, said: “This acquisition is a strong addition to our French portfolio not only due to its quality and location but also due to the prime covenant and long lease term.”
Fulya Altunyay/[email protected]