Valor Real Estate Partners has expanded its German logistics portfolio with the acquisition of assets in Berlin and Frankfurt.
The pan-European logistics specialist has paid an undisclosed sum to buy the 8,900sqm logistics facility in Berlin-Spandau let to HSG Hermes Service Gesellschaft and the 8,000sqm facility in Frankfurt’s district Offenbach in Carl-Legien-Str. 22.
Valor said the Berlin asset has been part of the Service KVG Intreal managed open-ended BEOS Corporate Real Estate Germany I fund since 2010.
Both purchases were financed by BayernLB.
Camila Malzkorn, vice president at Valor Real Estate Partners, said both properties in Berlin and Frankfurt benefit from their central location and direct access to both the urban and wider metropolitan area.
“The emerging e-commerce sector and urbanisation are increasing demand in supply-constrained submarkets close to city centres.
“We continue to see strong rental growth in these markets due to an imbalance between supply and demand.”
Since the fourth quarter of 2016, Valor has acquired logistics properties worth €750m in gross asset value in 36 transactions in the UK, France and Germany.