Pan-European real estate fund manager Mideal Group has acquired a prime logistics asset in Germany for its second fund.
The manager has bought the asset in Kösching, Bavaria, on behalf of Mideal Management 2, in a deal it describes as a “landmark nine-figure investment” in Southern Germany’s logistics market.
Completed in 2019/2020, the fully-let asset provides approximately 115,000sqm of gross lettable area, including warehouse and office space.
Raviv Koren, founder and managing partner at Mideal, said: This acquisition aligns with our commitment to expanding our portfolio with high-quality assets in key locations across Europe while exploring unique opportunities.
“This acquisition proves again our dedication to investing in properties with strong growth potential and a stable tenant base. We look forward to leveraging this asset to deliver sustained value for our investors.”
Tom Stroosky, acquisitions manager at Mideal, said: This acquisition tells the story of our team, from identifying special off-market opportunities, underwriting them through financing and execution. By expressing again our creative and flexible approach, we secured this unique off-market special opportunity.
“Our efficient decision-making allowed us to successfully obtain the financing and close the deal quickly, despite the market headwinds. This investment is a perfect fit for our criteria, and we anticipate to continue our activity in Europe as we’ve done in the last 20 years.”
Following this transaction, Mideal real estate’s portfolio comprises 23 commercial properties across Europe, representing more than 755,000sqm of lettable space, predominantly in Germany.
Mideal Management 2, backed by Israeli pension funds and insurance companies, raised €300m of equity, including co-investments, in 2021.
To read the latest IPE Real Assets magazine click here.
