Fund manager Deka Immobilien has acquired a logistics project in the German freight hub of Bremen in a sale-and-leaseback transaction valued at €23 mln.
Fund manager Deka Immobilien has acquired a logistics project in the German freight hub of Bremen in a sale-and-leaseback transaction valued at €23 mln.
The 30,000 m2 scheme will be added to the portfolio of Deka's West TargetSelect Logistics on completion. The vendor is logistics group Kieserling and one of its companies has signed a long-term triple-net lease on the property.
The property is being developed on a 45,000 m2 plot of land and is designed to achieve a silver sustainability classification from the German Sustainable Building Council (DGNB). Completion of the project is scheduled for autumn 2015.
