Real estate investor Nrep and Evolutiq have added a 23,000sqm logistics site to their German logistics joint venture.
Nrep, through its logistics platform Logicenters, and investment firm Evolutiq have acquired the site in the Stuttgart metropolitan area for an undisclosed amount. The site for a 15,000sqm logistics hub will be added to the joint venture’s existing portfolio of four sites and is set for completion by early 2027.
Wolfgang Ködel, the head of Germany, Nrep, said: “We are delighted to announce yet another successful project in a sought-after location which suits a deep tenant pool. Logistics continues to play a pivotal role in our strategic approach, as we deploy our proven knowledge and track record from this mature asset class in Germany.
“This project strengthens our portfolio and reaffirms our commitment to building a sustainable, modern logistics portfolio in the most attractive locations across Germany.”
Nicolas Rudzki, MD of Evolutiq, said: ”Kornwestheim is an excellent and strategically advantageous location in the Stuttgart metropolitan region.
“The swift and efficient execution of the transaction was only possible through the professional collaboration with our partner Nrep and the sellers, as well as the constructive and cooperative dialogue with the city’s representatives. We are delighted to expand our steadily growing pipeline with this attractive project.”
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