Clarion Partners Europe has acquired a fully-let portfolio of five logistics properties across Germany for €264m from Blackstone.
The real estate investment fund manager specialising in logistics and industrial assets said the acquisition of the 251,793sqm portfolio takes its total deployment since March this year to €428m.
The latest portfolio’s assets are located in Huckelhoven, Waldlaubersheim, Hamm, Linsengericht and Schwabisch Gmund.
Thorben Schaefer, director at Clarion Partners Europe, said: “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, said: “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.”
Earlier this month, Clarion Partners Europe acquired a 708,000sqft portfolio of three newly-built distribution warehouses in the UK from KKR.
The investment marks Clarion’s second venture in the UK this year. Back in March, Clarion invested £52m (€60.1m) to buy two warehouses in Peterborough, a deal that represented the firm’s first transaction in the UK since 2016.
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