Barings has formed a joint venture with Brennan Investment Group to invest an initial $150 million in Industrial Outdoor Storage (IOS) assets. The venture has already completed its first acquisition: a two-building, 4.75-acre IOS property in Denver, CO. 

“Together, we aim to capitalize on the growing institutional demand for IOS assets by leveraging Brennan’s deep sector expertise and Barings’ institutional investment platform with the aim of bringing enhanced returns to our clients,” said Raymond Tiernan, Director at Barings. 

Barings noted that the $150 million commitment represents a starting point, with ambitions to scale the portfolio significantly beyond that figure. The venture will tap into Brennan’s national acquisitions and property management capabilities to source and operate a geographically diverse IOS portfolio across high-demand industrial markets. 

“By combining Barings’ world-class investment platform with Brennan’s operational capabilities, we are well-positioned to create a premier IOS portfolio that meets the needs of today’s evolving economy and delivers long-term value for our investors,” said Michael Brennan, Co-Founder and Chair of Brennan Investment Group. 

Barings, a subsidiary of MassMutual, oversees more than $456 billion in assets across public and private markets globally, with growing exposure to real assets and capital solutions. 

Chicago-based Brennan Investment Group is a seasoned industrial real estate investor and developer, having acquired or developed over $6.5 billion in assets across 30 states. Its current portfolio spans 57 million square feet across 29 states.