In an off-market transaction, private German logistics developer Dietz has sold a prime logistics portfolio for upwards of €150 mln to an overseas international real estate investor.
The portfolio comprises two single let state of the art distribution warehouse facilities recently developed by Dietz, spanning a total gross lettable area of around 118,500 m2 and located in Central Germany.
Both assets benefit from strong sustainability accreditation and were delivered by Dietz as build-to-suit mission critical distribution facilities for the tenants. The portfolio is secured on long dated leased contracts.
The purchaser was advised by Knight Frank, Ashurst & KPMG. The seller was advised by Clifford Chance.
