Madison International Realty and asset manager StoneVest’s DACH region industrial real estate venture has added a German asset to its portfolio.
The joint venture has acquired a light industrial property in Weißenburg, Bavaria from a group of private investors. The 39,000sqm site offers 15,000sqm of leasable space, primarily warehouse and production areas as well as office space.
The property, located at Dettenheimer Straße 34 in Weißenburg’s Industrial Zone South, is occupied by KTX, a specialist in interior and exterior components for the automotive industry.
Carey Flaherty, CIO of Madison International Realty, said: ”This acquisition demonstrates our ability to identify and successfully acquire high-quality light industrial properties in a continuously challenging market environment.
“Our focus is on collaborating closely with our tenants to create sustainable, long-term real estate solutions that we believe generate value for all stakeholders.”
Wulf Meinel, founding partner of StoneVest AG, said: ”The Weißenburg property aligns perfectly with our strategy to acquire high-quality light industrial assets in well-connected locations. I am pleased that our joint venture with Madison International Realty has now secured its fourth property in Germany, and we look forward to continuing to grow our relationship.
“At the same time, supporting our tenant KTX in Weißenburg sustainably and working closely together to create the best possible conditions for their development and production activities is a key priority for us.”
Zurich-based investment manager StoneVest and New York-headquartered Madison International Realty entered into a joint venture in March last year to acquire €150m worth of light industrial properties in the DACH region over the next three years
The joint venture will invest €10m-€50m per transaction to acquire new and existing properties through sale-and-leaseback deals and acquisitions of leased corporate real estate as it targets properties in Germany, Austria and Switzerland.
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