In the Zinken 4 property in Norrköping, which was part of a portfolio acquisition in 2020, Barings has signed a lease for 11,780 square meters, corresponding to 51 percent of the leasable area, with Yokohama Scandinavia AB, which is owned by the multinational Japanese tire manufacturer The Yokohama Rubber Co, Ltd . Extensive investments will now be carried out there with the goal of obtaining BREEAM Very Good certification. Zinken 4 currently has only one tenant, who is moving out in the third quarter. After that, the property will be vacant for only five months before Yokohama moves in in March 2025. Croisette Real Estate Partner was hired as an advisor in the letting.

In the Sunnanå 12:48 property located in Burlöv outside Malmö, which Barings acquired in a portfolio of Skanska 2021 for its BREEVA II fund, Barings has signed a ten-year lease for 4,980 square meters. The tenant is Nya Malmö Mäss-service AB, which works with fairs and exhibitions. The six logistics properties that were included in the deal are all located in some of Sweden's best logistics locations and were completed in 2023. This year they will be certified according to BREEAM with the aim of the Excellent rating. In the letting to Malmö Mäss-service AB, Barings was represented by Savills.

Furthermore, Barings has signed a five-year lease agreement with Norconsult Sverige AB regarding an office space of 2,065 square meters in the property Härolden 44 at Fleminggatan 7 in Stockholm. The office building was acquired in 2018 as part of a European strategy for the acquisition of core properties. The premises will be rebuilt and renovated based on Norconsult's needs, and the move-in date is planned for 1 April 2025. The deal means that the property will have an occupancy rate of 92 percent. Adviser for this letting was New Property.

"Although the commercial rental market in the Nordics is as tough as in the rest of Europe, there is still a strong demand for high-quality properties in attractive locations, both in terms of offices and logistics and also in certain other parts of the market," says Kristina Johnson, Director, Nordics Asset Management, Barings Real Estate.

"These three lettings are a testament to our winning concept of combining local expertise with a global platform. They also show that the quality properties we own continue to attract tenants, despite the general challenges in the market at large. Barings continues to expand its portfolio in the Nordics , above all in terms of housing and logistics, and focuses on identifying value-creating properties that are attractive to both our investors and our tenants," says Andreas Norberg, Managing Director and Head of Nordics, Barings Real Estate.