Asset manager La Française and its South Korean partners have acquired their first logistics asset.

La Française, acting on behalf of Samsung Securities and KB Securities, has bought a 150,000sqm purpose-built e-commerce fulfilment centre located in Rheindahlen, Monchengladbach in the Rhine Ruhr region of Germany from developer Ixocon Immobilien.

The financing for the transaction was provided by DekaBank Deutsche Girozentrale, La Française said without given further details.

The newly-built property, which is leased to Amazon, consists of logistics facilities across 3 floors, office space, training centre and canteen areas alongside a dedicated car park building of more than 1,000 spaces and 180 trailer bays.

The deal is the first logistics investment completed by La Française on behalf of South Korean investors. For Samsung Securities, this is the third collaboration with La Française.

Nimit Oberoi, director of European acquisitions at La Française, said: ”This acquisition illustrates well the strength of our sourcing network to secure scarce investment products from local developers and align their interests to those of our clients.

“We thank our South Korean capital partners for their continued support.”

Jens Goettler, managing director for Germany, La Française Real Estate Partners International, said: “For La Française, this is a landmark transaction on behalf of South Korean investors, keen on diversifying their portfolios into e-commerce led investment themes.

“As e-commerce penetration deepens, the German logistics real estate market continues to show positive signs both in terms of valuations and rental values and we will continue to seek quality assets for our clients.”