Clarion Partners Europe has acquired a newly built 125,000sqm logistics asset in Germany from Garbe Industrial.
Garbe said the asset at the Technologiepark Mitteldeutschland technology park in Leipzig was sold via a joint venture with Bremer Projektentwicklung and Quakernack to a fund managed by Clarion Partners Europe for an unspecified amount.
Peter Bartholomäus, CIO at Garbe Industrial, said: “By developing this property, we created a high-end ESG-compliant asset in a strategically well-connected location.
“The successful sale demonstrates that demand for forward-looking logistics facilities in established locations has bounced back and that such properties remain an attractive investment.”
Thorben Schaefer, managing director at Clarion Partners Europe, said: “This was a rare opportunity to acquire a best-in-class, newly delivered logistics facility, in a dynamic and fast-growing region of Germany at a defencive basis. With market dislocation continuing to provide compelling investment opportunities, we are well placed to further scale our portfolio of high-quality, mission critical logistics assets.”
Rory Buck, managing director, Clarion Partners Europe, said: “We have continued conviction in the long-term fundamentals of the German logistics market, and are excited to add two blue-chip tenants to our pan-European occupier roster.”
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