A German logistics real estate investment partnership between Feldberg Capital and US public pension fund Teacher Retirement System of Texas (TRS) has completed its first acquisition.
Feldberg said the joint venture’s first acquisition comprises a 55,000sqm site on Industriestrasse 60 in Wedel, west of Hamburg, which will be developed into a logistics asset offering approximately 35,000sqm of total lettable area across six separate units.
Completion is scheduled for mid-2027, with logistics real estate specialist Thirteen Seven appointed as the project developer.
Stefan Schade, director, investment at Feldberg, said: ‘We focus on locations with strong connections to road, rail or air transport in economically strong regions.
“Hamburg and the surrounding area meet these criteria and also play a key role in the pan-European supply chain network. This makes it particularly well-suited for long-term logistics development.”
In June last year, US public pension fund TRS of Texas and Feldberg committed an initial €100m to launch their German logistics real estate investment partnership. The initial capital from the pair will enable the joint venture to develop a portfolio with an expected end value exceeding €200m.
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