French public-service pension scheme ERAFP has invested an undisclosed sum to buy a logistics warehouse in Germany.
LaSalle Investment Management, which made the investment on behalf of the €39bn civil servants’ scheme, said it has bought the 37,800sqm asset in the Großbeeren freight hub, located outside Berlin from DWS.
The Großbeeren warehouse was constructed in 2014.
Andreas Wesner, the head of transactions in northern continental Europe at LaSalle Investment Management, said: “We are pleased to be acquiring the Großbeeren logistics warehouse on behalf of our client, further enhancing our exposure to high-quality logistics assets and securing a driver of reliable long-term rental income.
“The combination of this state-of-the-art asset and its prime location, alongside a buoyant logistics market serving a thriving metropolitan area, marks this acquisition out as a particularly exciting addition to the portfolio.”
Mathias Malzbender, head of continental European separate accounts at LaSalle Investment Management, said the acquisition fits the long-standing client’s investment strategy of targeting prime logistics assets in Europe and further improves the portfolio’s diversification.
“The combination of state-of-the-art building specifications with one of the most established and versatile logistic locations in Germany makes this investment particularly appealing.
“The asset provides long-term stable income as well as embedded upside potential and offers the opportunity to further improve its sustainability profile, which is key to our client and to LaSalle.”
Deka Immobilien has also announced buying the An der Anhalterbahn 6 warehouse asset in Großbeeren from Invesco Real Estate for an undisclosed amount. The fully-let centre was constructed in two stages, in 2015 and 2017, and offers around 91,500sqm of space.
Deka said the asset was acquired for Deka-ImmobilienMetropolen, an open-ended real estate fund.
To read the digital edition of the latest IPE Real Assets magazine click here.