Barings offloads quartet of sheds to JV
Copley Point Capital and Sixth Street have acquired four logistics assets, including a 128,500 sq ft Warrington unit, from the global investment manager in an off-market deal.
The other assets included in the portfolio are in Bristol, Daventry, and Nottingham.
The Warrington asset was acquired from NFU Mutual as part of an eight-strong portfolio deal in 2022. The site is occupied by Countryside for timber frame modular construction.
UK operator Copley Point announced a joint venture with US firm Sixth Steet in November last year, speaking of the “significant access to capital” brought by Sixth Street, along with the investor’s flexibility on duration.
All assets are in established distribution locations and are fully let to occupiers on long leases. In Bristol’s Avonmouth, the property comprises two logistics units totalling 329,000 sq. ft. The property in Daventry comprises a 238,543 sq ft 1997-built warehouse, and the Nottingham asset totals 113,168 sq ft on Sherwood Business Park.
In Warrington, the asset totals 128,543 sq. ft and was built in 1996, with refurbishment completed in 2018.
Barings was advised by ACRE Capital Partners. Cushman & Wakefield acted for Copley Point Capital and Sixth Street.
Darren Hutchinson, managing director and head of UK transactions at Barings Real Estate, said: “This opportunistic sale is a good example of a strong sale discipline, realising a healthy profit in a relatively short hold-period, having successfully increased income by 20 per cent.
“This transaction is a catalyst to enable us to implement our strategy to deepen and further diversify our industrial/logistics exposure by targeting more multi-let assets.”
Gunther Deutsch, head of European transactions at Barings Real Estate, said the firm has concluded a sales volume of €380m in logistics in 2025, adding that with nearly €2bn of capital to deploy in 2025, the firm is actively looking to reinvest into logistics, living and “selective” office assets in its core geographies, including the UK.
