Valor Real Estate has acquired an urban logistics asset from Aurelis Real Estate in Berlin on behalf of its joint venture with QuadReal Property.
The 6,000sqm “ultra-urban” logistics property in Berlin’s Charlottenburg-North submarket is let to GO! Express & Logistics on a long-term lease.
Vincent Lampe, senior vice president at Valor, said: “This is a rare opportunity to acquire a modern ultra-urban logistics asset in one of Berlin’s most competitive and under-supplied sub-markets.
“This acquisition delivers secure long-term income and further expands our footprint in one of our high conviction markets where the development of ecommerce, sustained population growth and limited land for development will all support future demand for modern, well-located logistics space.”
The transaction follows the purchase of a 26,000sqm urban logistics asset and adjacent development site in Berlin’s North-East Berlin submarket of Lichtenberg.
Thomas Blangy, senior vice president at QuadReal, added: “This transaction builds on the JV’s recent momentum and, following our €91m deal in December, further strengthens our portfolio in what is Germany’s dominant e-commerce centre.”
The latest asset is located close to Berlin’s CBD West and the city centre.
“With the property’s proximity to two of Berlin’s major consumer centres and its excellent transport links, this transaction is firmly in line with our global investment strategy of targeting high-growth urban logistics hubs in key markets across Europe and the UK.”
To read the latest IPE Real Assets magazine click here.
