Frankfurt-based KanAm Grund Group has purchased the Lambda logistics property for its open-ended real estate investment fund for an undisclosed price.
Located near the German city of Chemnitz, the light industrial complex has been acquired for its Leading
It takes the tally to 6 logistics properties bought in Germany since 2018 for Leading Cities Invest fund, and to seven in total, representing around 5% of the fund's assets.
The long-term tenant of the property in Hartmannsdorf near Chemnitz is Diamant Fahrradwerke, with origins dating back to the 19th century.
It is nowadays owned by US bicycle and cycling product manufacturer Trek Bicycle Corporation.
Catella represented the vendor, while CBRE advised the buyer.
Demand for logistics and industrial real estate continues to be high, added KanAm.
With investment exceeding €10bn last year, logistics properties were the second most important commercial real estate class in Germany, after office space.
Market reports indicate that industrial and logistics properties accounted for more than 16% of the transaction volume in the commercial real estate investment market in 2021, the biggest slice to date.
