A joint venture between Tristan Capital Partners and Alpha Industrial has acquired two existing logistics properties in Germany for over €30 mln.
A joint venture between Tristan Capital Partners and Alpha Industrial has acquired two existing logistics properties in Germany for over €30 mln.
The deal, which is to be closed this month, involves two facilities in the port of Hamburg and in Überherrn in Saarland respectively. The vendor is Garbe Logistik.
Tristan has charged Cologne-based Alpha Industrial with the asset management of the properties, which together provide a total area of 50,000 m2. The deal increases Alpha's portfolio of modern logistics properties under management to over 750,000 m2.
'Just eight months after the portfolio acquisition in April 2012, we have now purchased two further properties with upside potential together with our investment partner Tristan Capital,' said Georg Starck, head of asset and property management at Alpha Industrial. The properties are earmarked for the CCP III fund.
The facility in Hamburg was developed for tenant DHL in 2001 and expanded between 2006 and 2009. It comprises around 27,000 m2 of warehouse and logistics space on a plot of 87,000 m2. It also has parking spaces for 150 cars and 24 trucks.
The 22,000 m2 logistics centre in Saarland's Überherrn, with a total property area of 42,000 m2, was built between 2006 and 2010 and is under long-term lease to international logistics provider Dachser.
