The amount used in the operation was not disclosed, but, according to Eje Prime, the asset management company has well defined plans for the asset: it plans to build, in the near future, two logistic warehouses with different dimensions. One will have 17.500 sqm and the other 32.000 sqm and both should be operational by the third quarter of 2020.
Barings’ CEO and in charge for the real estate area in Spain Adolfo Favieres commented, to the same newspaper, that «this operation shows Barings’ ability to take risks and add value and as such we want to cooperate with developers from other sectors such as housing or offices».
This is the third logistic transaction the American asset management company carries out in Spain, according to the same newspaper.
