Clarion Partners Europe has acquired a recently developed 66,930sqm logistics park in Germany from Panattoni for €75m.
The real estate investment fund manager said it has acquired the Panattoni Logistics Park in Voerde on behalf of its European funds, taking its deployment in Continental Europe’s “dominant logistics market since June last year to around €500m”.
Thorben Schaefer, senior director at Clarion Partners Europe, said: “This was a rare opportunity to acquire a high-quality, newly developed logistics park with an attractive income profile; near full annual CPI indexation, with medium term reversionary potential.
“Vacancy rates in the Rhine-Ruhr remain close to historical lows due to a limited development pipeline, which should drive future rental growth.”
Rory Buck, managing director at Clarion Partners Europe, said: “Germany remains one of our high conviction markets, with continued e-commerce growth and reshoring efforts underpinning occupier resilience.
“The broader logistics sector’s fundamentals remain highly compelling, which, coupled with our local market intelligence and investment firepower, is driving our significant acquisition programme.”
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