Clarion Partners Europe, the real estate investment fund manager specialising in logistics and industrial assets, has bought a German logistics portfolio for €265 million.
It consists of five modern, institutional-quality Grade A logistics assets with strong ESG credentials and totals 251,793 square meters. The portfolio has been bought for one of its commingled funds and takes Clarion Partners Europe’s total deployment since March this year to €428 million.
The German logistics portfolio
- A 123,360 square meter property in Huckelhoven, in the densely populated North Rhine-Westphalia region. The property has a DGNB Gold certification and is fully let to global logistics provider Rhenus.
- A 46,358 square meter property in Waldlaubersheim, 74km west of Frankfurt. It is fully let to pan-European 3PL provider Pfenning Logistics.
- A 45,198 square meter property in Hamm, in the northeastern Ruhr area. The property has a DGNB Gold certification and is fully let to DIY retailer Hellweg.
- A 21,818 square meter property in Linsengericht, 47km east of Frankfurt. It has a DGNB Gold certification and is fully let to global logistics provider Rhenus.
- A 15,059 square meter property in Schwabisch Gmund, 60km east of Stuttgart. The property has a DGNB Gold certification and is fully let to Robert Bosch.
Thorben Schaefer, Director at Clarion Partners Europe, says, “Offering direct access to key transportation hubs and major population centres, the portfolio offers an attractive mix of day one income and the medium-term opportunity to leverage our deep asset management expertise and strong occupier relationships.”
Rory Buck, Managing Director, Clarion Partners Europe, adds, “This German portfolio directly fits with our investment strategy of acquiring modern, sustainable logistics assets in locations with barriers to new supply and strong existing tenant demand. We see core markets such as Germany as highly attractive due to the country’s strong underlying property fundamentals. We continue to actively look for further opportunities across Europe which align with this strategy.”
Clarion Partners Europe was advised by Goodwin Procter, Drees & Sommer, and Deloitte. The vendor was advised by Eastdil Secured.
