Clarion Partners Europe is acquiring a portfolio of eight logistics properties across Germany and the Netherlands from Blackstone funds for around €270m.
The real estate investment fund manager specialising in logistics and industrial assets has agreed to buy the 241,400sqm portfolio for one of its funds.
The portfolio consists of six logistics assets located in Michelsrombach, Halle, Dortmund, Werne and Neunkirchen in Germany and two assets in Eindhoven and Vianen in the Netherlands.
Thorben Schaefer, a director at Clarion Partners Europe, said: “This was a rare opportunity to acquire a significant Dutch and German portfolio of tenant critical logistics assets, all located within a short distance of major motorway networks and population centres.
“Alongside strong day-one income, the portfolio provides meaningful reversionary potential. Leveraging our proven asset management capabilities to undertake a range of leasing and ESG-led Capex initiatives will enable us to capture this upside and future-proof the portfolio.”
Clarion Partners Europe has been busy in the European logistics market, deploying or committing €960m since March 2023.
Rory Buck, a managing director at Clarion Partners Europe, said: “Germany and the Netherlands are logistics markets where we see significant opportunity, given their favourable supply/demand dynamics.
“Since Q1 last year we have accelerated our investment activity and over the course of 2023 committed to acquire approximately €1bn of assets. With further significant capital to deploy, we are targeting a similar trajectory in 2024.”
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