BNP Paribas Asset Management Alts (BNPP AM Alts) has added an 18,000sqm logistics centre to its German portfolio.
The asset manager has invested an unspecified sum to acquire the newly developed asset in Mühlacker, near Stuttgart, from Lang & Cie.
The acquired property comprises warehouse and office space on a site of over 30,000sqm and is fully let to a single tenant.
The latest deal follows BNPP AM Alts’ acquisition of a 63,000sqm logistics centre in Möckmühl near Heilbronn as it continues to expand its German logistics footprint.
Philippe Grasser, head of European transactions at BNPP AM Alts, said: ”We are delighted to further expand our portfolio of high-quality, future-oriented logistics properties in one of Europe’s most dynamic economic regions. This logistics centre in Mühlacker represents exactly the type of quality properties we are looking for in our portfolio.
“With its strategic location in the heart of the German automotive industry, a long-term lease with a first-class tenant, and impressive sustainability features, this property fully fits into our European logistics strategy.”
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