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Barings Real Estate pays €90M for German logistics facility

Barings Real Estate picked up a 184,000-square-meter logistics facility in Unna, Germany, for roughly €90 million on behalf of a U.S. institutional investor.

The seller was a joint venture between real estate investor and asset manager M7 Real Estate and an undisclosed U.S. investor, and the deal is said to be one of the largest European logistics transactions over the past 12 months.

The property is 100% leased to department store chain Karstadt through 2026 and operates as its national distribution site.

A Barings Real Estate executive said in a release that the company is planning to substantially expand its logistics footprint in Europe. It is looking to target core to value-add assets and will consider both single properties and country-focused or pan-European portfolios.

Goodwin was legal adviser to Barings Real Estate, while Simmons & Simmons acted for the seller. Savills was the agent on the deal, and Barings Real Estate was advised by RLI Investors.

Barings Real Estate is part of diversified real estate investment manager Barings LLC.