Baring’s pan-European strategy acquires mixed-use assets in Sweden | News
Baring’swhich invests on behalf of a pan-European strategy, has acquired a 63,350 sqm mixed-use asset in Sweden from Pictet and Brunswick Real Estate.
Barings said it has acquired Vanda 3, a multi-residential property in Akalla, Stockholm. The property includes a data center, printing house, warehouse and office space.
In addition to being in an ideal location for last-mile logistics serving Stockholm, the asset is in one of the three main areas in the Swedish capital that the municipality has identified for data center development, Barings said.
Andreas Norberg, CEO and Head of Nordic Properties at Barings, said: “Vanda 3 is well positioned as an income generating asset, with significant potential for both last mile logistics and as a data centre.
“With excellent transport connections, a strong and diverse mix of tenants and uses, and good sustainability characteristics, Vanda 3 is a strong addition to our Nordic portfolio as part of our core European strategy.”
Gunther Deutsch, managing director and head of European real estate transactions at Barings, said: “An impressive core-plus asset already, we plan to further enhance Vanda 3’s mix of uses and its ESG credentials.”
Deutsch said Barings is keen to explore joint ventures and individual opportunities in logistics, residential and office in markets such as the Nordics, UK, France, Germany, Italy, Spain and the Netherlands.
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