Catella Real Estate has acquired three cross-dock logistics properties in Nuremberg, Mainz and Iserlohn for its special fund Catella Logistik Deutschland Plus.
The assets, built in 2016, were acquired from DWS. Financial details were not disclosed.
The sole tenant is Deutsche Post, which uses the properties as last-mile cross-dock sorting and delivery bases. The plot size of all properties is around 53,000 m2 in total. The three buildings have a lettable area of 15,163 m2 as well as 10 truck, 150 van and 96 car parking spaces.
Logistics space accounts for around 90% of the rental space, with the remaining 10% serving as office space. The buildings have a hall height of 7.00 m and a floor load capacity of 20 kN/m2.
The properties are 100% leased to Deutsche Post. The rental contracts are triple-net contracts with ‘roof and compartment’, so all necessary maintenance measures are taken over by the tenant. Deutsche Post uses the properties as last-mile cross-dock sorting and delivery bases, from which Nuremberg, Mainz and Iserlohn and their surroundings are supplied.
Catella Real Estate was advised on the acquisition by DLA Piper UK LLP on legal and tax matters as well as technically by x.project. With regard to ESG requirements, x.project also carried out an ESG assessment. BNP Paribas Real Estate brokered the transaction.
Bernhard Pfeiler, senior investment manager at Catella Real Estate said: ‘Catella was able to successfully secure three more attractive properties for the special fund Catella Logistik Deutschland Plus, thus further increasing both regional and sectoral diversification..
‘With the tenant Deutsche Post, we have a strong partner at our side who, like us, sets high sustainability standards and is continuously developing. With Mission 2050, DHL is striving for climate neutrality through the use of electric vehicles, the reduction of CO2 emissions and ESG investments.’
