GreenOak Real Estate, in partnership with Apeiron, has moved into the German logistics market with the acquisition of a 340,000sqm portfolio.
The duo bought the three fully-leased warehouse properties in a joint venture with Korean investors Hana Financial Investment and Tiger Alternative Investors.
The assets are located in established logistics/industrial areas near Munich, Karlsruhe, and Dortmund.
The investment represents GreenOak’s entry into the German market. Earlier this year, GreenOak entered the Belgian market, acquiring two logistics properties, through separate transactions. GreenOak has recently also acquired 14 logistics assets in France, Spain, and the Netherlands.
This investment follows Apeiron’s past logistics investments in Germany.
John Carrafiell, co-founder of GreenOak said: “Benefiting from a central location in Europe, a robust economy, low vacancy, and significant supply constraints, the German logistics market is well positioned for continued strong performance.
”Large, modern and well-located logistics facilities are the key real estate asset for today’s economy.”
With continental Europe lagging behind the US and the UK in the provision of these facilities, the fundamentals driving occupier demand are strong, Carrafiell said.
”GreenOak’s significant presence across continental Europe’s largest economies positions our platform well as a leading investor and developer in the sector.”
Vojkan Brankovic, founder of Apeiron said: “This is a really exciting time for German real estate but in particular for the German logistics sector.
“Changing consumer habits are driving the exceptional growth of this real estate sub-sector and presenting some excellent investment opportunities for those looking for long term stable cash flows.”