Clarion Partners Europe, a real estate investment fund manager specialising in logistics and industrial assets, has completed the acquisition of a 31,000 m2 modern facility in Bitburg, Germany, via a forward funding agreement with Panattoni, for €35 mln.
Since December 2023, Clarion Partners Europe has now acquired 15 assets in Germany, with a Gross Development Value of over €650 mln.
The Grade A logistics development, which is targeting a DGNB Gold certification, is fully let to a multinational tyre manufacturer on a 12-year term and will serve as a key component of the tenant’s supply chain network.
The property benefits from strong arterial connectivity via the nearby A60 (less than 15 minutes’ drive time) and A1 Autobahn (30 minutes’ drive time).
Thorben Schaefer, senior director at Clarion Partners Europe, commented: 'This is a highly sustainable, mission critical asset, with strong road connectivity, providing a long-term inflation hedge via annual indexation. Furthermore, targeting a DGNB Gold-certification aligns with our commitment to the development of future proofed real estate.'
Rory Buck, managing director at Clarion Partners Europe, added: 'We remain highly disciplined in our deployment activity, utilising a variety of structures, including forward funding agreements with established operating partners such as Panattoni.'
Clarion Partners Europe was advised by Goodwin (legal) and CBRE (technical).
