Swiss Life buys logistics warehouses in Spain

Swiss Life buys logistics warehouses in Spain

As reported by the company, the transacted portfolio comprises ten assets located in Germany, France, Italy and Spain and is fully leased to operators with a WALT (weighted average lease period) of 8 ,6 years. Six of the ten assets in the portfolio are platforms dedicated to cold storage. JLL, Ashurst and Arcadis have advised Barings on the transaction, while Savils advised the buyer.

This is not the first divestment in logistics that Barings has made in recent months in Spain. Last June the company sold a platform with two warehouses to M&G near Madrid for 40.6 million euros

“This transaction represents our first sale of our pan-European logistics portfolio after our strategic growth in this sector in recent years,” explains Gunther Deutsch, European Transaction Managers and Managing Director for Barings in Germany. .

Despite this divestment, Barings continues to analyze purchase opportunities in key markets such as Scandinavia, the Netherlands, the United Kingdom, Germany, Italy, France and Spain, the executive added.

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