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Barings buys Gothenburg shed as targets €400m at Nordics

Following an off-market deal, Barings is to pay €26 million for a newly built Grade A logistics asset, Sörred Kubiklager, in Gothenburg, Sweden. The building has been acquired from Skanska.

The asset, which has been bought on behalf of a core investment strategy comprises 20,100 sq m of space, which can be subdivided and its specification includes office space, roof-mounted solar panels, 23 loading docks and 58 parking spaces. It also meets the requirements of the EU’s GreenBuilding programme.

The first tenant will move into its space during the second quarter of 2021.

“2020 was an active year for us in the Nordics, where we invested €230 million into offices and logistics across both core-plus and value-add risk profiles. We anticipate that 2021 will be another busy year as we aim to deploy €400 million across the Nordics mainly in logistics, CBD offices with repositioning potential and in the residential sector,” Thorsten Slytå, managing director and head of Nordics at Barings, said.

“Within these segments we will review core, core+ and value add opportunities,” he added.