Global investment manager Carlyle has acquired a logistics and business park with a multi-tenant structure at a strategic location near Munich.
Financial details were not disclosed.
The asset is located at Dieselstrasse 18-22, on a leasehold plot of approximately 45,000 m2. It has an occupancy rate of around 95% with rental income in excess of €1.5 mln per year and the potential for appreciation through adjustment in line with market levels.
It was sold by private foundation Sophia mit PS Südbayern, which developed the property.
The business park offers users around 25,000 m2 of logistics and commercial space in two buildings, allowing good access to the city centre (17 km), exhibition grounds (21 km) and Munich Airport (21 km). Both buildings have been equipped with photovoltaic facilities since 2010 and the electricity generated by them is fed into the grid.
The building at Dieselstrasse 18-20 is solely for warehouse and logistics use and comprises around 9,300 m2 of area with 42 ramps and two ground-level gates on a plot of around 20,000 m2. The structure at Dieselstrasse 22 is a classic commercial or light industrial property of approximately 15,400 m2 on a plot of around 25,000 m2 that can primarily be utilised at ground level.
Realogis positioned and sold the asset on Sophia's behalf through a selective biding process. Actum Real Estate Investment consulted on the acquisition.
'We are delighted to have sold the logistics and business park at a top location with a healthy tenant mix of logistics, warehousing and production at one of the most attractive commercial sites in the Munich market area to an institutional investor,' said Clemens Kerscher, managing director of Realogis Immobilien München. 'The sale process was highly professional and wrapped up in less than four months.'
