Logistics and industrial specialist, Clarion Partners Europe, has completed a deal for five assets sold by Blackstone.
Clarion, which features in PropertyEU’s new Logistics Watch publication, has acquired the Germany assets for €264 mln, also taking acqusitions by the firm since March to €428 mln.
The assets are in Huckelhoven, Waldlaubersheim, Hamm, Linsengericht, and Schwabisch Gmund.
Thorben Schaefer, director at Clarion Partners Europe, said the portfolio offered an attractive mix of day one income and the medium-term opportunity for asset management.
The company is trying to buy modern sustainable logistics assets in locations with barriers to new supply and strong existing tenant demand.
Clarion Partners Europe was advised by Goodwin Procter, Drees & Sommer and Deloitte. Eastdil Secured acted as adviser to Blackstone.
The Huckelhoven property is 123,360 m2 with a DGNB Gold certification and is fully let to global logistics provider Rhenu.
The second asset is a 46,358 m2 in Waldlaubersheim, 74km west of Frankfurt fully let to pan-European 3PL provider Pfenning Logistics.
The third measures 45,198 m2 in Hamm, which is in the northeastern Ruhr area. The property has a DGNB Gold certification and is fully let to DIY retailer Hellweg. The fourth in Linsengericht is 21,818 m2, also with a DGNB Gold certification, and is fully let to global logistics provider Rhenus.
Lastly, the property in Schwabisch Gmund, 60km east of Stuttgart, measures 15,059 m2, has a DGNB Gold certification, and is fully let to Robert Bosch.
