Nagel sells storage portfolio to Tristan and Barings

Barings and CCP5 LL (a core-plus real estate fund by Tristan) have acquired a portfolio of cold storage facilities in Germany and Denmark from the Nagel-Group in a sale and leaseback transaction. The portfolio contains 34 warehouses covering a total of 260,000 sqm with 26 of them based in Germany and the other 8 being in Denmark. CCP5 LL acquired 27 of the assets, leaving the last 7 to Barings. Drooms, a cloud solutions provider in Europe, provided a virtual data room for the transaction where the buyer secured access to relevant information for valuation purposes. “Asset value is, to a great extent, dependent on the quality of the underlying documentation,” said Alexandre Grellier, CEO of Drooms. “Therefore, it is of the utmost importance that the parties involved have access to all the information pertaining to a particular asset.”