BNP Paribas REIM has acquired Baden-Airpark, a logistics complex located on the airport area of Baden-Baden, near the Franco-German border.
Financial details were not revealed.
The investment manager acquired the asset on behalf of its Eurozone logistics fund (ELF), managed by BNP Paribas REIM Luxembourg.
'The acquisition of Baden-Airpark perfectly reflects the strategy of the European Logistics Fund to acquire modern class A logistic warehouses in Core locations of the Eurozone, including last mile logistics assets,' said Lucas Despretz, fund advisor of the ELF.
The asset comprises 45,000 m2 of two newly constructed grade A warehouses and is fully let to three logistics companies. The building was developed by Greenfield Development.
Baden-Airpark is the second acquisition for ELF after the first closing of a brand-new Logistics warehouse in the Netherlands. Furthermore, BNP Paribas REIM has already secured its third asset of its ELF Fund, a logistics complex located near Leipzig airport which will be delivered in the first quarter of 2019.
