CBRE Global Investors has acquired a cross dock portfolio in Germany on behalf of two of its separate account clients for €128.4 mln.
The vendor was Hellmich Unternehmensgruppe.
The portfolio comprises 10 newly developed cross dock facilities with six of the assets located in the North Rhine-Westphalia, one in Kassel (Hesse) and the remaining three in Baden-Wuerttemberg. They are all let to DHL.
'This portfolio is of exceptional quality. All ten assets are located in highly populated areas where there is limited land supply,' commented Marius Schöner, head of Germany at CBRE Global Investors. 'DHL is the biggest parcel deliverer in Germany and the sheds are of strategic importance to them. We believe that these factors make this a unique acquisition and one that will generate stable income for our clients.'
The parcel hubs were built between 2012 and 2015. The total lettable area of all the assets is 51,015 m2 and the total site area amounts 183,575 m2.
'To have secured this portfolio in an off-market deal is a great result for the business. We have significant capital to invest in Germany and will be sourcing quality assets like these throughout 2017,' concluded Ulrich Oppermann, head of transactions Germany at CBRE Global Investors.
