ABG Real Estate, the German real estate company led by former DIC Asset chief, Ulrich Höller, has branched out into a new asset class.
Its investment entity, ABG Capital, has struck a deal with Dietz, to acquire the Kerpen Logistics Centre in Kerpen, north Rhine-Westphalia, on behalf of a club of professional pension funds for around €115 mln.
ABG Capital will acquire the majority of shares in the logistics centre by way of a share deal, while Dietz AG will continue to hold a minority stake in the company and will remain significantly involved in asset management.
Dietz completed the development in May this year.
The property measures around 59,400 m2 plus offices in a separate administrative building and has a DGNB “Gold” certificate. It is fully let via long-term leases to two businesses from the supplier and events management industries.
Höller, managing partner, said: ‘We are embarking upon the next step in ABG Capital’s development, expanding its activities into the logistics market, which offers vast opportunities. The acquisition of the logistics centre in Kerpen is the ideal starting point for this purpose.’
