BNP Paribas Real Estate Investment Management’s (REIM) Eurozone Logistics Fund (ELF) has acquired a newly-built warehouse from developer Goodman.
The fund bought the 69,300sqm Star Park Halle asset located in the Star Park logistics park near Leipzig for an undisclosed sum.
Lucas Despretz, fund advisor of ELF, said: “This new acquisition is strengthening the allocation of the fund in Germany which is the most mature market for logistics in Europe.
“The Star Park logistics park is very well located at the crossing of two main motorways and benefits from the labour force of Halle and Leipzig, both cities are less than 25 kilometres away. It is an affordable and efficient alternative to the older areas around Leipzig.”