Goodman Group has acquired two logistics assets comprising more than 70,000 m2 of warehouse space in Germany.
Goodman Group has acquired two logistics assets comprising more than 70,000 m2 of warehouse space in Germany.
The total investment volume for the acquisition carried out as part of Goodman's joint venture with Chambers Street Properties came to just under €46 mln.
The joint venture, known as Goodman Princeton Holdings, acquired the properties in Bremen and Bodenheim.
Philippe Van der Beken, managing director of Goodman Continental Europe, said the company is 'ambitious' to identify and acquire similar opportunities across Europe and 'to secure further strategic transactions which will ultimately strengthen our portfolio and add value for our customers and investors'.
The developments were completed in 2012 and are fully leased on long-term agreements. In Bremen, the 29,000 m2 warehouse leased to Lear Corporation is located in the Hansalinie Business Park, while the asset in Bodenheim comprises 41,000 m2 of multi-tenant warehouse space leased to Geodis and Poco-Domäne.
Goodman manages a portfolio of 2.5 million m2 of assets across Germany with a value of €1.4 bn and an occupancy rate of 99.7%. It has 123 logistics properties under management in 11 countries in continental Europe and total assets of 4.5 million m2.
