Logistics platform International Industrial Properties (IIProp) has sold a single-let logistics property in Bensheim, Germany to UBS Real Estate.
Financial details were not disclosed.
The 10,600 m2 property has been fully leased to MSK Pharmalogistic, a family-run full-service pharmaceutical provider.
It uses the site as a certified logistics centre for the warehousing and handling of pharmaceuticals and medical products.
Equipped with a PV system for low-emission energy supply, green roof and charging stations for electric vehicles, the asset is seeking DGNB Gold Standard certification.
The asset is located in an established commercial and industrial area within close proximity of the A5 and A67 highways, with connections to both Mannheim and Frankfurt, and to Mannheim City Airport.
Maciej Dyjas, co-owner and managing Partner at Griffin Capital Partners, said: ‘Over the past few months, we have been increasing our activity in Germany. This market is extremely attractive to us, not only in terms of logistics properties, but also on account of the residential and office space here. A few weeks ago, we sold a logistics asset in Neuenburg am Rhein, a city in the Baden-Württemberg region. Now we close this deal with UBS Real Estate GmbH with another successful transaction, which demonstrates the effectiveness of our business strategy, generating consistent profits.’
Nebil Senman, co-owner and managing partner at Griffin Capital Partners, commented: ‘I would like to congratulate everyone involved in this transaction, which further consolidates our already strong position in the international logistics market. Thanks to our cooperation with Madison, we were able to put together an exceptional investment tailored to the needs of a leader in the pharmaceutical market. Our business model, based on cooperation between Griffin Capital Partners and our partners, has once again delivered great results, and we are not stopping there.’
Diana Shieh, managing director at Madison International Realty, added: ‘I am thrilled to see that our partnership with Griffin Capital Partners continues to deliver high-quality logistics assets. We believe Europe remains an attractive market and through strong partnerships, we expect to see additional successful transactions in the future.’
Owned by Madison International Realty and Griffin Capital Partners, IIProp focuses on industrial and logistics assets in key European markets.
