Barings Completes €23M Capital Increase & Prepares Socimi Debut

28 February 2018 – Eje Prime

Barings is not wasting any time in Spain and is taking advantage of the good health of the country to generate profits from its investments. The British fund has just carried out a €23.1 million capital increase for its Spanish subsidiary Barings Core Spain, which, according to market sources, it is preparing to convert into a Socimi and debut on the Alternative Investment Market (MAB) within the next few months.

Specifically, the company has increased its share capital to finance the purchase of new assets and to meet the company’s financing needs. Following this increase, which was published in the Official Gazette of the Mercantile Registry (Borme), the company’s resulting subscribed share capital amounts to €47.1 million.

Now, after a very active year in terms of acquisitions in the Spanish market, the group has decided to transform its company and turn it into a Socimi. Although the company is in the middle of carrying out that process, it does not yet have a final date for the completion of the transformation. The group is also working in parallel to prepare the future Socimi to start to trade on the alternative stock market.

In this way, all of the assets that form part of the Barings portfolio would move across to be managed by its Socimi. They include the recently acquired Berceo shopping centre, in Logroño (…).

Also in 2017, the British company backed commercial assets with the purchase of a prime retail outlet in Spain. Barings acquired the store at number 64 Calle Velázquez in Madrid. With a retail surface area of 1,638 m2, the establishment is currently occupied by Banco Popular.

In terms of logistics assets, last year, Barings also took responsibility for fattening up its property portfolio with those kinds of products. In April, the group purchased a logistics asset in Madrid from GLL Real Estate Partners for €35 million. The warehouse has a surface area of 56,000 m2 and is leased to Ceva (…).

Before the end of 2017, Barings also completed another purchase. In December, the international manager acquired two assets in Majadahonda (Madrid) for €17.6 million, owned until then by López-Real, and occupied by the Eroski supermarket chain. The fund purchased a storeroom and gas station, spanning a total surface area of 10,900 m2.

Last year, Barings also strengthened its management team in Spain. The fund announced that, as part of the on-going expansion of its European offer, it had appointed Carlos de Oya as Director of Asset Management in the Spanish market. Barings has one office in Spain, located at number 38 Calle Serrano, in Madrid.

Barings Real Estate Advisers is one of the largest diversified real estate investment managers in the world. The group is an active investor in private and listed markets, in both equities and debt, and provides fundamental, value-added and opportunistic investment and advisory services to institutional and other qualifying investors around the world. The group manages an asset portfolio worth €271 billion.

Original story: Eje Prime (by Custodio Pareja)

Translation: Carmel Drake

Barings Buys 56,000 m2 Logistics Warehouse In Madrid For €35M

19 April 2017 – Mis Naves

The Barings Real Estate Advisers Group, one of the largest diversified real estate investment managers in the world, has purchased a logistics warehouse in Madrid, from GLL Real Estate Partners, for €35 million.

As part of its investment strategy across Europe, the group has acquired an asset that has a surface area of 56,000 m2. It is located in a privileged distribution area in the south of Madrid, with direct access to the A4 and R4 motorways, which connect the capital with the south of Spain.

The warehouse is leased in its entirety to Ceva, a major logistics and freight management company, which has extended its lease contract given that the property is located in a strategic area for the sector.

This is the second investment that the Group has made in Spain. It first invested in the Spanish market with the acquisition of an asset in Madrid in July 2016, after opening an office in the capital at the end of 2015.

Barings Real Estate Advisers is dedicated to managing real estate assets around the world. It invests in private and listed assets and provides investment and advisory services. The Group has a portfolio worth €271,000 million.

Original story: Mis Naves

Translation: Carmel Drake