Patron Capital and Inbright’s German light industrial investment venture has added two new properties to its portfolio.
The partnership has invested unspecified amounts to acquire a fully-let 150,000sqft asset in Mainz from Aurelis Real Estate and a 82,000sqft building at Porgesring 22 in the Billbrook area of Hamburg in a leaseback deal with a private investor.
The latest acquisitions bring the joint venture’s portfolio to three assets, following a previous purchase in Cologne’s Marsdorf area. The joint venture aims to build a portfolio of around €250m over the next three years.
Christoph Ignaczak, senior partner and investment director at Patron Capital, said: “The light industrial sector has seen strong and stable growth in recent years, particularly in economically strong regions such as Mainz and Hamburg.
“With over €200m of firepower for investments of this type, we continue to seek out additional suitable assets that we can develop sustainably to suit modern occupiers’ requirements, growing our platform further while benefiting from the supply-and-demand imbalances of the light industrial sector in Germany.”
Sebastian Pijnenburg, managing director of Inbright’s development arm, said: “We’re proud to complete these successful transactions, particularly in the context of a challenging environment for the real estate industry more broadly.
“Our portfolio strategy focuses on targeted measures to increase the environmental and social sustainability of our buildings. In this way, we meet growing ESG requirements while at the same time creating an attractive environment for our tenants.”
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